U.S. consumer prices climbed sharply again last month as the 10-week war with Iran pushed energy prices higher.
National average for gas prices has risen by well over a dollar per gallon since late FebruarySign up for the Breaking News US newsletter emailDonald Trump pledged to suspend the US federal gas tax in a bid to reduce pressure on Americans after the US-Israel war on Iran sparked a sharp rise in fuel prices.The US president told reporters on Monday that his…
President Trump has declared the American cease-fire with Iran is on “life support,” and investors are taking a cautious approach as the lack of progress in peace talks weighs on the markets.
Donald Trump is expecting economic deals and a “wild” welcome this week in China. In reality, he’ll arrive facing an emboldened Xi Jinping, just as his own hand is constrained by the conflict in Iran. When the US president touches down in Beijing on Wednesday evening for a 36-hour summit, it’ll mark his first overseas trip since waging war in the Middle…
President Trump told CBS News' Nancy Cordes that he wants to temporarily lift the federal gas tax as prices continue to rise amid the ongoing war with Iran. Mr. Trump also said the latest response from Iran to end the war was "a bad proposal ... done by people that have no clue as to the danger they're in."
Inflation heated up in April to the hottest level in three years as the Iran war drove energy prices higher, and started to filter through the economy.
Inflation rose five-tenths of a percentage point to 3.8% for the year ending in April, the Bureau of Labor Statistics reported Tuesday, as disruptions to the energy market from the Iran war added to underlying price pressures. The inflation reading for April was the highest since May 2023. HIRING JUMPS TO HIGHEST RATE SINCE EARLY 2024…
The key measure of US inflation rises its highest level since May 2023 as consumers feel the impact of the Iran war.
