Source: NBC News
“Inflation surged to 3.8% in April, its highest level in nearly three years, according to data released Tuesday, as the war in Iran causes a ripple effect across the economy and energy prices surge. As inflation continues to accelerate, it’s eating into Americans’ wages at a rapid clip. April’s inflation rate means that prices are now rising faster than wages for the first time since 2023, which could exacerbate the affordability crisis that has already been gripping consumers. … The overall rise in inflation was in line with what was expected by economists. On a month-over-month basis, inflation rose 0.6%. Core inflation, which excludes food and energy costs also rose 0.4% from the month prior, the Bureau of Labor Statistics said. That rise was higher than what had been expected by economists.” (05/11/26)
https://www.nbcnews.com/business/economy/april-inflation-data-iran-war-rcna344586