The annual inflation rate for the year ending in April climbed to 3.8%, up 0.4% on a month-to-month basis, the Commerce Department reported Thursday.

A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances.

The PCE price index for April was expected to show an annual inflation rate of 3.8% for all items and 3.3% for core.

US CPI inflation surged to 3.8% in April 2026, the highest since May 2023, as energy and food costs spiked. Bitcoin held steady near $81K amid the turmoil.

Inflation of 3.8 per cent in April was the highest since May 2023 amid high petrol prices and food costs.

The annual inflation rate for the year ending in April climbed to 3.8%, up 0.4% on a month-to-month basis, the Commerce Department reported Thursday.

The PCE price index, which is the US Federal Reserve's primary measure of inflation, increased 0.4 per cent from the previous month and 3.8 per cent from a year earlier in April.…