US inflation jumps to 3.8pc as energy costs surge from Iran war
A jump in the cost of gasoline and groceries pushed the consumer price index (CPI), showing the rate prices rose by in the past 12 months, to 3.8%. Kenya breaking news | Kenya news today |..
✨ Key Highlights
US inflation surged to 3.8% in April, the fastest rate since May 2023, primarily driven by escalating energy costs linked to the conflict in Iran.
- US inflation reached 3.8% in April, a significant jump from March's 3.3%.
- The Bureau of Labor Statistics (BLS) reported that soaring energy costs accounted for nearly half of the increase.
- The rising inflation makes it less likely the Federal Reserve will cut interest rates this year, potentially forcing a more conservative approach from the incoming chair, Kevin Warsh.
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US Inflation Jumps to 3.8pc as Energy Costs Surge from Iran War - May 2026
US inflation surged to 3.8% in April, the fastest rate since May 2023, primarily driven by escalating energy costs linked to the conflict in Iran. Russian Finance Minister Anton Siluanov warned that a blockade of the Strait of Hormuz has already caused a global energy crisis and could lead to a worldwide recession, increased food and fertilizer prices. Indian Prime Minister Narendra Modi ordered a significant reduction in his motorcade to conserve fuel as part of broader efforts to address rising energy prices amidst the Middle East crisis.
