Inflation Jumps to Highest Level Seen Under Trump as Gas Prices Spike
Summary
Inflation in the United States rose to 3.8 percent in April, the highest level during President Donald Trump's time in office, largely due to rising energy prices. Gas prices increased significantly because of supply problems linked to the war in Iran, causing overall consumer prices to rise.Key Facts
- Inflation rose from 3.3 percent in March to 3.8 percent in April.
- Energy prices caused 40 percent of the monthly inflation increase.
- The average price for a gallon of regular gas was $4.50 in April, up from $4.13 the month before.
- Energy prices are 17.9 percent higher than they were a year earlier; fuel oil prices rose 54 percent.
- Core inflation (which excludes food and energy) increased slightly to 2.8 percent in April.
- The war in Iran has driven up global oil prices and contributed to inflation.
- President Trump supports a temporary suspension of the federal gas tax to try to reduce fuel costs.
- Housing costs also showed a larger monthly rise due to delayed government data updates.
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