1 of 1
Story summary
- Workers have seen paychecks shrink as Iran-war energy prices rise, leaving gasoline $1 per gallon above pre-conflict levels, according to American Automobile Association (AAA).
- May’s personal consumption expenditures (PCE) index excluding food and energy is set to rise 3.4%, the fastest since October 2023.
- Credit-card use climbs, while rate hits and President Donald Trump’s tax law provides refunds and Marianne Lake of JPMorgan Chase says wage growth trails price gains.
