Gas Prices Lift US Annual Inflation Rate to 3.8 Percent—Highest Since May 2023

Shelter inflation also contributes to the higher-than-expected reading.

A man uses a gas station in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times

The U.S. annual inflation rate shot up to 3.8 percent in April, according to new Bureau of Labor Statistics data.

Economists had forecast a reading of 3.7 percent.