The April Inflation Report Is Here

Inflation spikes to 3.8 percent in April, higher than expected

The annual inflation rate shot higher in April as the war in Iran drove up energy and food prices, according to data released Tuesday by the Labor Department. The consumer price index (CPI), a popular gauge of inflation, rose 3.8 percent over the past 12 months and 0.6 percent in April alone, according to the…