US inflation surged to 3.8% in April, its highest level in nearly three years
Energy costs accounted for nearly half of the monthly increase, and gasoline prices rose 5.4% as inflation remained above the Federal Reserve target.
- 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.
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407 Articles
Prices up 3.8% from last year, highest since 2023: Iowa worker news and layoffs for May 14, 2026
Iowa Worker’s Almanac news briefs for May 14, 2026: Prices keep rising: Prices are up 3.8% from a year ago, according to this week’s Labor Department report, with gas, other fuel, and housing prices as the big drivers. That’s widening the rich-poor gap even more. Blame the unauthorized war with Iran, which continues to cut off our supplies from the Middle East. That $12 billion farmer bailout is also being eaten up by rising prices caused by Tr…
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…
MyCentralOregon.com
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…
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