Published on: 2026-05-12
US CPI April
12/5/2026 (Tue)
Previous: 3.3% Forecast: 3.7%
US consumer prices spiked in March as the Iran war sent energy costs soaring and took the Fed further from its inflation target, according to a Bureau of Labor Statistics report.
Underlying inflation was relatively tame, signalling high interest rates were still taking effect. Americans had already been navigating persistent cost-of-living pressures before the war.
Trump is calling for the suspension of the federal gas tax, as the price of fuel has surged throughout the country. He suggested on Monday it would be unlikely to reach a ceasefire deal anytime soon.
