US inflation hits three-year high as gasoline prices surge

WASHINGTON, D.C.: U.S. inflation accelerated to its highest level in three years in April as rising gasoline prices linked to the Iran war increased costs for consumers and squeezed household budgets.

The Labor Department said on May 12 that the consumer price index rose 3.8 percent from a year earlier, up from 3.3 percent in March and the biggest annual increase since 2023.

Consumer prices rose 0.6 perce