President Donald J. Trump remains confident in the American economy’s resilience despite the stubborn persistence of high prices, shrugging off affordability concerns with his standard devil-may-care attitude.
The Labor Department released its report showing that the Consumer Price Index rose at an annual rate of 4.2 percent over the last 12 months, with the month of May alone accounting for 0.5 percent as gas prices remain elevated due to the Iran war and closure of the Strait of Hormuz.
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