{"id":80319,"date":"2026-05-12T12:41:01","date_gmt":"2026-05-12T12:41:01","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/cpi-surged-in-april-as-inflation-soars-to-highest-level-in-almost-3-years\/"},"modified":"2026-05-12T12:41:01","modified_gmt":"2026-05-12T12:41:01","slug":"cpi-surged-in-april-as-inflation-soars-to-highest-level-in-almost-3-years","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/cpi-surged-in-april-as-inflation-soars-to-highest-level-in-almost-3-years\/","title":{"rendered":"CPI surged in April as inflation soars to highest level in almost 3 years"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"article-0\">\n  <!-- lil observer --><br \/>\n      <span class=\"content__observer-marker content__observer-marker--fixed lazyload\"\/><\/p>\n<section class=\"content__body\">\n<p>Inflation accelerated in April to an annual rate of 3.8%, the highest since May 2023, as the\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/us-iran-tensions\/\" data-invalid-url-rewritten-http=\"\">Iran war<\/a><\/span>\u00a0pushed up energy costs and raised prices across the economy.<\/p>\n<h2>By the numbers<\/h2>\n<p>Economists predicted inflation would jump to 3.7% on an annual basis, up from the<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/cpi-report-today-march-2026-inflation-iran-war-trump\/\" data-invalid-url-rewritten-http=\"\">\u00a03.3% reading in March<\/a><\/span>, according to a FactSet poll.<\/p>\n<p>The CPI, a basket of goods and services typically purchased by consumers, tracks price changes over time.<\/p>\n<p>Inflation stood at 2.4% for the\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/cpi-report-today-inflation-january-2026-tariffs\/\" data-invalid-url-rewritten-http=\"\">first two months<\/a><\/span>\u00a0of the year, but jumped in March after the war in the Middle East broke out. The conflict has constrained global oil supplies, sending gas prices to their highest levels\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/gas-prices-450-when-will-gas-prices-go-down\/\" data-invalid-url-rewritten-http=\"\">since July 2022<\/a><\/span>\u00a0and driving up costs for diesel-powered trucks that transport American goods.<\/p>\n<p>President Trump told CBS News in a phone interview on Monday that his administration would\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/trump-interview-suspending-gas-tax-iran-war\/\" data-invalid-url-rewritten-http=\"\">suspend the federal gas tax<\/a><\/span>\u00a0\u2014 which is 18.4 cents per gallon for regular gas and 24.4 cents per gallon for diesel \u2014 &#8220;for a period of time.&#8221; However, experts say that the move may only provide\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/federal-gas-tax-suspension-impact-gas-prices\/\" data-invalid-url-rewritten-http=\"\">limited relief<\/a><\/span>\u00a0to U.S. motorists.\u00a0<\/p>\n<p>In the interview, the president also rejected the idea of a bailout for U.S. air carriers dealing with higher jet fuel costs. Many carriers have hiked their ticket prices due to higher fuel costs, dealing a blow to Americans at the start of the\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/airline-tickets-will-go-down-jet-fuel-iran-war\/\" data-invalid-url-rewritten-http=\"\">summer travel season<\/a><\/span>.<\/p>\n<h2>What the experts say\u00a0<\/h2>\n<p>Mark Zandi, chief economist at Moody&#8217;s Analytics, expects inflation to keep accelerating through the summer even if the conflict ends in the next few weeks, before falling to 3.3% by year-end.<\/p>\n<p>Higher energy prices from the war will increase the cost of groceries and other goods delivered by diesel-powered trucks, he told CBS News before the CPI release.<\/p>\n<p>&#8220;The pass-through will broaden to nearly all manufactured goods, which are energy-intensive, as well as to agriculture and construction,&#8221; he said in an email.<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/aimee-picchi\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Aimee  Picchi<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<div class=\"component__item-recirc-block\">\n<p><h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section>\n<\/section>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/cpi-report-today-april-2026-inflation-iran-war-trump\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation accelerated in April to an annual rate of 3.8%, the highest since May 2023, as the\u00a0Iran war\u00a0pushed up energy<\/p>\n","protected":false},"author":1,"featured_media":80320,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[2304,957,1528],"class_list":["post-80319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-stories","tag-consumer-price-index","tag-inflation","tag-iran"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CPI surged in April as inflation soars to highest level in almost 3 years - World News<\/title>\n<meta name=\"description\" content=\"U.S. consumer prices rose in April, fueled by a spike in energy prices caused by the Iran war.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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