Inflation

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.
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Gas Prices Lift US Annual Inflation Rate to 3.8 Percent—Highest Since May 2023
A man uses a gas station in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times
Andrew Moran
|Updated:
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Consumer prices accelerated for the second straight month in April as the war in Iran added to renewed inflationary pressures.

The annual inflation rate rose to 3.8 percent, from 3.3 percent in March, according to new Bureau of Labor Statistics data released on May 12.

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Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."