Inflation Spikes to 3.8% Due to Rising Energy Prices

Consumer prices rose 3.8% in April from a year earlier, a clear impact of higher gas prices since the start of the war with Iran.

The figures, reported Tuesday by the Labor Department, surpassed the previous month’s reported increase of 3.3%. Economists polled by The Wall Street Journal had expected inflation of 3.7%. The April increase was the highest in three years.

READ MORE: https://www.msn.com/en-us/money/markets/inflation-soared-to-38-in-april-driven-by-gasoline-prices/ar-AA22ZJ5H