US inflation hits three-year high of 3.8% driven by rising energy costs amid Iran tensions
By
Al Jazeera Staff
Plain bagel done well. Pleasantly substantive.
Summary
US inflation hit a three-year high in April, with the Personal Consumption Expenditures (PCE) price index rising 3.8% year-over-year, up from 3.5% in March. The surge was primarily driven by heightened petrol prices, which jumped 5.5% in April. The report attributes the inflationary pressures to the ongoing US-Israel war on Iran, which has fueled higher energy costs.
Key quotes
· 3 pulledUnited States inflation jumped at its fastest pace in three years as the ongoing US-Israel war on Iran fuelled higher energy prices.
Personal consumption expenditures — the US Federal Reserve's preferred measure for assessing inflation — rose by 3.8 percent over the last year in April, following a 3.5 percent increase in March.
Heightened petrol prices led the inflationary pressures, with prices that jumped 5.5 percent in April.
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