Oil shock pushes US inflation to 3.8% as energy costs surge
TL;DR Summary
US consumer prices rose 3.8% year over year in April, the fastest since 2023, driven by surging energy costs tied to the Iran conflict; gas averages about $4.50 a gallon, with housing and groceries also lifting inflation, keeping Federal Reserve rate cuts unlikely this year.
- US inflation jumps to 3.8% as energy costs surge from Iran war BBC
- CPI Shows Inflation Accelerating After Weeks of War in Iran The New York Times
- US consumer prices increase further in April Reuters
- US inflation rose to 3.8% in April, eroding Americans’ paychecks CNN
- Treasury yields rise as investors await key inflation data CNBC
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