>> deirdre bolton for us there.nk you. >>> well, yellowstone national park will let visitors back in starting wednesday. the park shut down last week after catastrophic flooding destroyed bridges and roads in the area. visitors will be allowed back into the southern loop of the park. the park service is implementing a temporary park system where even numbers have access within on one day, and odd the other. just to manage the crowds. >>> and that flooding out west comes on the heels of a lot of heat. time now for a check of the weather and danielle breezy from our affiliate wkrn in nashville tracking that heat. >> the heat is moving east. as i go back to nashville it's going to feel like the triple digits by tuesday. in fact, take a look at this. chicago, you're in the 80s today as well as nashville. by monday, tuesday, into the mid to upper 90s. dallas, texas, triple digits starting tomorrow. and it's not just the heat that we're talking about. we also are talking about today, severe weather threat. this is going t

deirdre bolton joins us now. the fed has been hiking interest rates in order to try to slow inflation and bring down prices but there are concerns as the economy slows people could lose their jobs. >> that is a possibility. the fed is really between a rock and a hard place here. secretary yellen saying earlier today, it is going to take skill and luck to bring down inflation while maintaining a strong u.s. labor market, but she says she does think it is possible. linsey. >> many americans hope she's right. deirdre, thank you. >>> we turn to the capitol riot investigation. public hearings resume this week, and tonight, one of the two republicans on the committee, adam kinzinger, said the actions of former president trump may rise to the level of criminal involvement in the january 6th insurrection. our new abc news/ipsos poll shows a majority of americans believe trump bears significant responsibility for events and should be prosecuted. and the new evidence the committee member says they will present in the next

abc's deirdre bolton joins us in new york with that. >> reporter: a year ago the national average for price of a gallon of milk was $3.49, now around $4.20, a 20% increase. these costs up across the board, part of why all americans are feeling the pinch. inflation nation. americans are paying significantly more for basics such as food, fuel and rents. >> i basically just got struggle food and popsicles. >> reporter: the consumer price index rose to 8.6% and signaled that price pressure may be here for a while. food costs soaring this morning, milk, poultry, fish and eggs seeing an average increase of 14% since last may. for americans families coping with the squeeze there are many strategic decisions. >> our grocery bills are probably, probably a few hundred dollars more. we try to have a game plan about how we're going to go about the groceries, how we can stretch things. >> reporter: this mom putting the strategy into action in the aisle of the grocery stores. >> i usually grab these wraps which are on sale. >> reporter: with americans trying to do more with less, food banks are als

abc's deirdre bolton has more on the inflation we're seeing.ood morning. >> reporter: good morning, whit. you mentioned it, these food prices are a huge component in this inflation factor, it's a big one. grocery prices alone raising by 11.9%, the most since 1979. eggs, milk, meat, these are the biggest culprits. gasoline, all-time high. national average per gallon, $4.98. compared to $3.07 a year ago, a 62% increase from a year ago. rent up more than 26% for a one-bedroom apartment, that's according to rent.com. just from a year ago. the issue is that these are basic costs of living. we're not talk about spending on vacation or anything extra. more worrying experts say may's data points show these higher prices are here to stay. a recent government report shows consumer sentiment is at a record low. for what you can do for your family there are rewards programs at grocery stores, sign up for those, especially the ones you use the most often. grocery shopping apps such as basket, drop, ibotta, they offer forms of cash back or free gift cards. o

here's abc's deirdre bolton. >> reporter: this morning, soaring inflation forcing millions of householdslars further by putting charges on their credit cards. americans carry an average of $6,194 in credit card debt. in may of this year, americans had a collect balance of $856 billion. up from $757 billion in may of 2021. >> we're starting to see credit card debt move up. we're also starting to see the savings accumulated during the pandemic start to run down. >> reporter: according to bankrate, more than 1 in 3 americans have less emergency savings now than one year ago. and with american households are spending an additional $341 month to purchase the same goods and services compared to 2021 the rising prices are upending the budgets of millions of americans. >> it's really scary. because it doesn't seem to get better any time soon. >> inflation is hitting moderate income households the hardest. credit card debt is going up at a time that interest rates are going up. >> reporter: also tracking credit card delinquencies are up, they're still near record lows. carrying over that existing

abc's deirdre bolton is here with more. deidre, good morning. >> reporter: good morning. workers especially teenagers this could be the best summer job market in more than a decade. there are more jobs than workers. some employers are struggling to find people to wait tables, staff factories, guard swimming pools. by category here is where the most jobs were added in may. leisure and hospitality, professional and business services and transportation and warehousing. the labor market is hot. it's full of opportunities, but inflation is hotter. we all know it. we all feel it. it takes more money to fill up at the pump. it takes more money to go to the grocery store, to pay rent. americans are making more on average, but wage gains are not enough to keep pace with rising prices. 8.3% inflation, a four-decade high, so real wage growth or purchasing power is falling. >> and, deidre, obviously when you're talking about inflation rates, the highest in a generation, some business leaders are sounding gloomy about inflation and the economy. what are you hearing? >> they sure are.