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Consumer Costs Jump 3.8%, Savings Slip, Gas Hits 4-Year High

5/29/2026

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Summary

Story summary

Data shows the personal consumption expenditures index rose 3.8%, outpacing 3.6% wage growth and challenging President Donald Trump's pledge to lower costs.
A Debt.com survey found more than half of U.S. adults use credit cards for essentials, while the savings rate fell to 4.0% from 6.2%.
AAA data shows the national average price for regular gasoline hit its highest level in four years, with California prices reaching $6 per gallon.

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Story summary

Data shows the personal consumption expenditures index rose 3.8%, outpacing 3.6% wage growth and challenging President Donald Trump's pledge to lower costs.
A Debt.com survey found more than half of U.S. adults use credit cards for essentials, while the savings rate fell to 4.0% from 6.2%.
AAA data shows the national average price for regular gasoline hit its highest level in four years, with California prices reaching $6 per gallon.