Inflation is 3.8% and rising on Iran-driven energy costs, but still nowhere near the Biden-era highs.
The chart below shows us where we were four years ago:
Breaking news: US inflation jumped to 3.8% in April, its highest level in three years, as Donald Trump’s war in the Middle East continued to drive a sharp rise in fuel prices.
🚨 JUST IN: US April CPI rose 3.8% YoY, its highest level in 3 years, sending Nasdaq 100 futures down over 1%.
On Opinion: 98% odds the Fed makes no rate change in June.
Trade now:
Trump is tanking the economy.
Inflation is up 3.8%.
Families are cutting back on groceries.
Meanwhile, Trump sits in the Oval Office doing whatever the hell this is.
OUCH! US inflation jumped to 3.8% in April, up from 3.3% in Mar and above Wall St’s 3.7% forecast. That is the highest level in 3yrs. The main driver was a surge in petrol prices after President Trump’s war in Iran pushed up oil prices, adding fresh pressure to America’s cost-of-living crisis. But the most worrying detail was shelter inflation: housing costs rose 3.3% YoY, showing that underlying price pressures remain sticky. Core CPI was +2.8%, up from +2.6% in Mar and above Wall St’s +2.7% forecast.