Inflation reaches highest level in three years
Inflation climbed to 3.8 percent in April, the highest reading since May 2023. Core inflation excluding food and energy reached 3.3 percent, the highest since November 2023.
Topic cluster
rising
2 sources grouped by AFBytes in Economy
AFBytes briefing
Higher inflation raises costs for groceries, fuel, and housing that directly increase household budgets for American families. Persistent price growth also pressures wages and savings returns for retirees and workers.
Key entities
- April
- Inflation
What to watch next
- Monitor the next CPI release and any Fed speeches for signals on whether rate cuts remain likely this year.
- Track upcoming gasoline inventory reports and the next inflation release for confirmation of price trends.
U.S. inflation gauge rises to 3.8 percent
A key U.S. inflation gauge rose to 3.8 percent year-over-year in April, driven in part by higher gasoline prices.