finance

U.S. Inflation Gauge Hits Three-Year High in April

The Commerce Department reported that a key inflation measure rose to 3.8 percent in April. Real incomes fell while core prices also climbed above the Federal Reserve's 2 percent target.

5 sources·May 28, 12:42 PM(23 hrs ago)·1m read

U.S. Inflation Gauge Hits Three-Year High in April

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A key inflation gauge rose to its highest level in three years in April, the Commerce Department said Thursday. 5 percent in March and the strongest reading since May 2023. 7 percent jump in March. 2 percent.

Gasoline, groceries, clothing and electricity all contributed to the increase. Services such as dental visits, car repairs and veterinarian care also posted sharp gains. 43 on Thursday, according to the AAA motor club. 98 a gallon the day before the Iran war began.

Personal income was unchanged in April from March.

1 percent. Farm incomes dropped after a large government aid package ended last month. 3 percent the prior month. S. 6 percent annual rate in the first quarter, the Commerce Department also reported Thursday. 5 percent pace in the final quarter of 2025, which was reduced by a 43-day federal government shutdown.

Inflation remains above the Federal Reserve's 2 percent target. Some officials have indicated the next policy move could be a rate increase rather than a cut.

Key Facts

3.8%

year-over-year PCE inflation in April

3.3%

core PCE inflation over the past year

0.1%

decline in real personal income in April

1.6%

U.S. GDP growth rate in first quarter

inflation economy federal-reserve consumer-spending

Story Timeline

4 events

May 28, 2:03 PM ET
3 new sources added: nypost.com, New York Post, ABC News
3 sourcesnypost.com · New York Post · ABC News
April 2026
Commerce Department reports PCE price index rose 3.8 percent year-over-year.
2 sourcesLos Angeles Times · AP
Q1 2026
U.S. GDP grew at a 1.6 percent annual rate after a 43-day government shutdown.
1 sourceLos Angeles Times
May 2026
National average gasoline price reached about $4.50 a gallon for three weeks.
1 sourceLos Angeles Times

Potential Impact

01
Federal Reserve officials may delay any interest-rate cuts this year.
02
Higher prices could reduce real consumer spending in coming months.

Transparency Panel

Sources cross-referenced5

Confidence score74%

Synthesized bySubstrate AI

Word count176 words

PublishedMay 28, 2026, 12:42 PM

Bias signals removed2 across 1 outlet

Signal Breakdown

Loaded 1Speculative 1

Original Sources

Los Angeles TimesKey inflation gauge worsens as Americans' income and spending power erodes Associated PressA key inflation gauge accelerated in April to the highest level in three years, the latest sign t...nypost.comFed’s preferred inflation gauge worsens as Iran war sends food, energy prices surging

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