The Globe and Mail reports in its Friday, May 29, edition that consumers in the United States are feeling the impact of rising prices, with core goods inflation reaching its fastest pace since Ronald Reagan's presidency. The Globe's Jason Kirby writes that the Personal Consumption Expenditures Price Index rose 3.8 per cent in April compared with the previous year, driven largely by soaring gasoline prices. Prices for core goods have risen significantly due to two factors: tariffs and the artificial intelligence boom. President Donald Trump's trade wars have increased import costs, allowing some American companies to raise prices. A recent U.S. Federal Reserve note analyzed the impact of tariffs on core goods, noting they contributed significantly to price increases up until February, 2026. However, pressure is expected to ease following the top court's overturning of Mr. Trump's emergency tariffs, although other tariffs remain. Additionally, a Federal Reserve Bank of Minneapolis report noted that rising prices for some goods, particularly electronics, are attributable not only to tariffs but also to AI-driven demand. Indeed, in Wednesday's PCE report, the tech category of goods jumped 10 per cent annually.