Consumer prices increased by 3.8 percent over the past year, the highest rate seen since 2023.

An economic adviser to President Donald Trump has dismissed Americans’ worries over the state of the economy, claiming their concerns are a reaction to rapid movements by the administration rather than the rising consumer prices millions are having to deal with due to the president’s policies. In comments to CNBC earlier this week, National Economic Council Director Kevin Hassett claimed that…

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