Inflation accelerated in April to an annual rate of 3.8%, the highest since May 2023, as the Iran war pushed up energy costs and raised prices across the economy. Economists predicted inflation would jump to 3.

The new CPI report showed annual inflation sped up to 3.8% in April, the highest rate since 2023. Higher energy prices due to the Iran war are affecting consumer prices. Prices at the pump are having unequal effects on consumers,

What You Need to Know Inflation rose 3.8% over 12 months in April, the highest since May 2023 and in line with forecasts.The Iran war has sent gas prices soaring, pushing up the overall inflation rate.

Inflation rose to its highest level since 2023 in April as surging oil costs stemming from the Iran war drove up prices at the gas pump and impacted supply chains.

U.S. consumer prices climbed a sharply again last month as the 10-week war with Iran pushed energy prices higher

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The worst US inflation in years is once again eating away at Americans’ paychecks, as rising gasoline and grocery prices threaten to undermine household spending.

Consumer prices rose 3.8% in April from a year earlier, a clear impact of higher gas prices since the start of the war with Iran. The figures, reported Tuesday by the Labor Department, surpassed the previous month’s reported increase of 3.