05/26/2026
Inflation accelerated in April, with the Consumer Price Index (CPI) rising 0.6% for the month and 3.8% over the past 12 months, according to the U.S. Bureau of Labor Statistics. Core inflation, which excludes food and energy, rose 0.4% in April and 2.8% over the past year.
Much of the increase was driven by higher energy costs, as the energy index climbed 3.8% in April alone and is now up 17.9% year-over-year. Shelter costs also remained elevated, rising 0.6% for the month, while food prices increased 0.5%, reflecting ongoing pressure on household budgets.
The recent surge in inflation has been heavily influenced by rising oil prices tied to the ongoing conflict involving Iran. Brent crude oil prices jumped from roughly $70 per barrel before the conflict to as high as $118 in April, driving up gasoline, airfare, and transportation-related costs across the economy. Gasoline prices have risen about 28.4% over the past year, while airline fares increased 20.7%, illustrating how higher energy prices continue to ripple through many areas of consumer spending.
Economists warn that inflationary pressures may persist if global energy markets remain unstable. Continued disruptions in the Strait of Hormuz - a key shipping route for global oil supplies - have kept fuel prices elevated, creating additional strain for consumers already dealing with higher everyday expenses.
Sources:
https://www.bls.gov/news.release/cpi.nr0.htm
https://www.cnbc.com/2026/05/12/inflation-breakdown-for-
