US faces rising costs with Iran war driving energy prices, inflation higher | Inflation News

US consumer prices rose by 0.6 percent in April, marking the biggest annual increase in almost three years, driven by soaring energy costs. The surge in energy prices, including petrol, was attributed to the US-Israel war on Iran and led to a 3.8 percent annual increase in overall prices. The average price for a gallon of petrol is now $4.50, up from $2.98 when the conflict began. Economists predict that the price increases will be temporary but remain concerned about the long-term impact of the war on Iran and the global economy.