US Annual Inflation Shoots Up to 3.3 Percent, Highest Level Since May 2024

The inflation spike was not a surprise, but observers are waiting to see if price pressures will persist.

High gas prices are displayed at a Chevron gas station in El Segundo, California, on April 8, 2026. Mario Tama/Getty Images

A spike in energy prices sent the annual U.S. inflation rate to its highest level since May 2024, according to the Bureau of Labor Statistics.

Last month’s Consumer Price Index report showed that the 12-month inflation rate climbed to 3.3 percent, from 2.4 percent in February, the bureau reported on April 10.