US April CPI Rises 3.8%, Biggest Gain in Three Years on High Oil Prices

The US consumer price index rose 3.8% year on year in April, reaching its highest pace in about three years. The figure shows that higher energy prices following the Iran war are weighing directly on the real economy. The rise in oil prices was reflected in consumer inflation, underlining how energy costs are affecting broader prices. If high oil prices persist, cost pressures on US households and businesses could increase. The source is mk.co.kr.