US Inflation Hits Three-Year High at 3.8% in April
Inflation in the US rose to 3.8% in April, the highest level since May 2023, according to the Commerce Department. This marks an increase from 3.5% in March. Monthly prices increased by 0.4%, down from 0.7% in March. Core inflation, excluding food and energy, reached 3.3%, the highest since October 2023. Americans' after-tax, inflation-adjusted incomes fell for the third consecutive month, while spending adjusted for inflation rose just 0.1%. The US economy grew at an annual pace of 1.6% from January to March, a downgrade from an initial estimate of 2%. Consumer spending, which accounts for two-thirds of economic activity, slowed to 1.4% growth in the first quarter. Gas prices averaged $4.43 per gallon recently, down from about $4.50 earlier this month.
Published 2 days ago • 28 May 2026, 09:24 PM IST