Economists predict the Consumer Price Index will have risen to 3.8% in April, up another 0.6% from March.
The Consumer Price Index is widely expected to show inflation has risen to a nearly three-year high when April’s data is released Tuesday morning.
The Iran war’s wide-ranging economic fallout has caused prices to spike, and economists and analysts project that inflation will hit 3.8%, up 0.6% from March to April, according to a survey from Dow Jones.
April’s inflation reading follows an even sharper 0.9% jump from February to March. Last month’s increase was the largest month-to-month jump since 2022.