Inflation rises 3.4% as gas and airfare costs climb

Overall prices rose 3.4% from August 2025 to August 2026, according to new federal data released Friday. Gasoline prices increased 28.1% over the same period, while airfares rose 23.4%.

An economics professor attributed the increases largely to higher gas and oil costs, saying transportation expenses affect the prices of goods. The inflation figures are adding pressure on the Federal Reserve to raise interest rates, which could increase borrowing costs for consumers and affect car purchases, retail sales and housing.

Read the full story at wptv.com.