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Gasoline has risen above $4.50 per gallon, nearly $1.40 more than what it was a year ago.
President Donald Trump visits a Whataburger restaurant in Corpus Christi, Texas, Friday, Feb. 27, 2026, as Energy Secretary Chris Wright watches. | Matt Rourke/AP
Inflation climbed faster than at any point in the last three years in April as fuel and food prices surged due to the war in Iran.
The Labor Department on Tuesday reported that the consumer price index increased at an annual rate of 3.8 percent — the highest since May 2023 — with rising energy costs accounting for more than 40 percent of the spike. Food prices at grocery stores and restaurants also rose, and shelter prices shot up. Core inflation, which excludes food and energy costs, ticked higher at a rate of 2.8 percent.
