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- The national average price of gasoline in the United States hit a new high of $4.619 per litre

There has been no statement as of yet, despite rumors that Vice President Biden would soon announce the cancellation of a significant portion of student loans.

According to the personal consumption price index, inflation was marginally less rapid in April.

Even though inflation is high in the US, pet owners aren't spending less on food for their pets, says the CEO of Petco, a big pet store in the US.

“The majority of our business is staples,” Ron Coughlin said on Yahoo Finance Live. “Just like you don’t cut back on milk or eggs, pet parents don’t cut back on food for their pets.

"In fact, we're seeing foods get better, with fresh frozen foods and kibbles becoming more and more expensive."

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