US inflation jumped to 3.8 per cent 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.
The Bureau of Labor Statistics’ consumer price index was up from year-on-year gains of 3.3 per cent in March and 2.4 per cent in February, before the conflict broke out. Economists polled by Bloomberg had expected an increase to 3.7 per cent.
Tuesday’s inflation figure is the highest since 2023 as the country reeled from the energy shock triggered by Russia’s invasion of Ukraine.
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