US inflation surged to 3.8% in April, its highest level in nearly three years
- The Bureau of Labor Statistics reported Tuesday that inflation rose 3.8% annually in April, with prices increasing 0.6% between March and April, exceeding the Dow Jones consensus by 0.1 percentage point.
- Fighting in the Middle East has snarled tanker traffic in the Strait of Hormuz, pushing inflation to its highest level in almost three years as energy costs surged across the economy.
- Energy prices accounted for 40% of the monthly increase, while air fares jumped 2.8% as Americans faced higher travel costs.
- President Trump announced on Monday that his administration would suspend the federal gas tax—18.4 cents per gallon for regular gas and 24.4 cents for diesel—"for a period of time."
- Mark Zandi, chief economist at Moody Analytics, expects inflation to accelerate through the summer before falling to 3.3% by year-end, as higher energy costs ripple through groceries and manufactured goods.
394 Articles
394 Articles
US inflation hits highest level in 3 years
What happenedConsumer prices last month shot up 3.8% from a year earlier, the biggest year-over-year uptick since May 2023, the U.S. Labor Department reported Tuesday. The heated inflation was driven largely by a 28% year-over-year jump in gasoline prices tied to President Donald Trump’s war with Iran. Who said whatThe latest consumer price index underscored how “daily life in America is getting more expensive,” The New York Times said. Airfares…
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Inflation jumps to its highest level in three years
Close-up on a woman shopping at a convenience store and checking her receipt while exiting. (Hispanolistic.Getty) (NEW YORK) — Inflation rose for a second consecutive month as the U.S.-Israeli war with Iran continued to send gasoline prices surging in April, government data on Tuesday showed. The inflation report matched economists’ expectations. Prices rose 3.8% in April compared to a year earlier, marking an increase from a year-over-year infl…
Why the US Inflation Feels Worse Than 3.8%: The Growing Gap Between Official Data and Real Life Costs
US inflation has climbed to 3.8 per cent, its highest level since 2023, as the surge marks a sharp acceleration in price pressures, driven largely by rising energy costs linked to global geopolitical tensions and broader supply-side constraints, according to the latest Consumer Price Index data from the Bureau of Labour Statistics. On paper, the figure reflects a moderate but notable uptick in inflation compared with previous months. However, fo…
US Consumer Prices Hit Highest Level Since 2023 on Energy Shock and War Fears
The US consumer price index accelerated to 3.8 percent year-on-year, marking the highest inflation reading since May 2023 and signaling renewed pressure on the American economy. The latest figures point to a broad-based rise in prices, driven largely by soaring energy costs and escalating instability in global oil markets. On a monthly basis, consumer prices rose by 0.6 percent. Energy prices played the central role in the increase, climbing 3.8…
US annual consumer inflation posts largest gain in three years as prices increase broadly
WASHINGTON — U.S. consumer inflation increased further in April, with the annual rate posting its largest gain in three years, heightening political risks for President Donald Trump and his Republican Party ahead of November’s midterm elections. The post US annual consumer inflation posts largest gain in three years as prices increase broadly appeared first on Hawaii Tribune-Herald.
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