It’s not just high gas prices – inflation is now spreading through the US economy

A key challenge for the Federal Reserve is that higher gas prices are inflationary, but they also reduce households’ spending power and dampen growth.

By: D. Brian Blank, Mississippi State University and Brandy Hadley, Appalachian State University, The Conversation

Outlets: The Conversation

Published: May 28, 2026

Words: 1,419

Last Updated: 1 month, 4 weeks ago

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By D. Brian Blank, Mississippi State University and Brandy Hadley, Appalachian State University

Americans don’t need a press release to know that inflation is rising. Gasoline is above $4 per gallon amid the ongoing conflict in the Middle East and closure of the Strait of Hormuz, and the release of key price data on May 28, 2026, underscores why policymakers are worried these pressures could spread into the broader economy.

The report …

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