US CPI hit 3.8% in April 2026, a three-year high driven by a 17.9% energy price surge. The Fed faces delayed rate cuts, creating headwinds for crypto.

US CPI inflation jumped to 3.8% YoY in April 2026, outpacing 3.6% wage growth. Real wage compression frustrates voters and delays Fed rate cuts.

Consumers now expect prices to rise 4.8% over the next year, up from 3.4% in February, and businesses and bond markets are signaling similar expectations.