US inflation continued to accelerate in April amid an ongoing climb in gasoline prices driven by the Iran war.
The consumer price index rose 3.8% from a year earlier, according to Bureau of Labor Statistics data out Tuesday, marking the fastest pace since 2023. From a month earlier, prices were up 0.6%.
The core CPI, which excludes food and energy, increased 0.4% from a month earlier and 2.8% from a year earlier, boosted in part by a statistical quirk in the report’s measure of rents resulting from the 2025 government shutdown. - Bloomberg
