Inflation in the United States rose sharply in April to an annual rate of 3.8%, reflecting higher fuel prices due to the war in the Middle East and a slight increase in food prices, official data released today showed. The last time inflation reached such levels was in May 2023. By comparison, the consumer price index (CPI) rose by 3.3% in March and 2.4% in February.
This increase is mainly due to the price of gasoline (+28.4% year-on-year), but other sectors of the economy are also moving up, from supermarket purchases to rents.
The Middle East war, which began on February 28 with US-Israeli attacks on Iran, appears to be at an impasse and oil prices remain above $100 a barrel. A gallon of regular gasoline (about 3.8 liters) currently costs about $4.50 in the United States, up from $3 before the war, according to data from the American Automobile Association (AAA).
With the crucial midterm elections months away, President Donald Trump's administration is assuring that these economic upheavals are temporary. The Republican White House incumbent declared during the election campaign that restoring the purchasing power of American citizens is his priority.
