According to the Consumer Price Index (CPI) for April this year, U.S. inflation climbed to 3.8%, marking a sharp increase from March’s 3.3%.
This is now the highest inflation level recorded in the past three years. Analysts attribute the surge mainly to rising energy prices caused by the Iran conflict and supply disruptions in the Strait of Hormuz.
In addition, elevated energy costs reportedly accounted for a significant portion of last month’s inflation increase on their own. Nevertheless, President Donald Trump described the inflation spike as “temporary,” stating that geopolitical priorities remain more important than short-term economic difficulties.
Furthermore, the International Monetary Fund (IMF) warned that global average inflation could reach 4.4% this year, emphasizing that uncertainty in the energy market continues to pose a major risk to the global economy.
