US consumer prices saw a sharp increase in April, largely due to higher energy costs driven by the ongoing war with Iran. The consumer price index rose 3.8% year-on-year, with gasoline prices significantly contributing to the monthly gain.

US consumer prices climbed sharply again last month as the 10-week war with Iran pushed energy prices higher. The Labor Department’s consumer price index rose 3.8 per cent from April 2025, according to data released on Tuesday. On a month-to-month basis, April prices rose 0.6 per cent from March as petrol prices rose 5.4 per cent during the month; the month-over-month gain was down from 0.9 per cent increase from February to March. Labor Department figures showed that petrol prices are up more.....