WASHINGTON (AP) β U.S. consumer prices climbed sharply again last month as the 10-week war with Iran delivered higher gasoline prices and more pain for Americans.
The Labor Department reported on May 13, 2026, that the consumer price index rose 3.8% from April 2025, the biggest 12-month jump since February 2025. On a monthly basis, prices increased 0.4% from March to April, driven largely by a 5.6% surge in gasoline costs.
Excluding volatile food and energy prices, core inflation rose 3.2% year-over-year, down slightly from 3.3% in March. However, the overall inflation rate remains well above the Federal Reserve's 2% target, complicating plans for interest rate cuts.
βThe conflict in Iran has disrupted global oil supplies, pushing up energy costs for American families,β said Sarah Johnson, an economist at the Brookings Institution. βThis is a clear example of how geopolitical events can directly impact household budgets.β
The report adds pressure on the Biden administration as it navigates the economic fallout from the war, which began in early March 2026. The White House has urged oil-producing nations to increase output, but analysts say relief may take months.
