War-driven price shock sent April inflation to highest level in nearly three years

War-driven price shock sent April inflation to highest level in nearly three years

The Iran war’s oil price shock drove the Federal Reserve’s preferred inflation gauge to 3.8% last month, its highest rate in nearly three years, new data showed Thursday. The Personal Consumption Expenditures price index rose 0.4% in April from the month before, a deceleration from the 0.7% increas...

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