US inflation hits 3.8% as Iran conflict sends fuel, living costs soaring

US inflation hits 3.8 percent in April, driven by energy and food as Iran conflict disrupts oil routes, consumer confidence falls, and Fed faces pressure over interest rate cuts By BHUPENDRA PAINTOLA Consumer prices in the US surged 3.8% year-on-year in April, marking the steepest rise since 2023, as the ongoing conflict involving Iran continued to push up fuel, electricity and daily living costs across the country. As per data released by the Bureau of Labour Statistics on Tuesday (May 12), inflation accelerated from 3.3% in March and 2.4% in February, underscoring how quickly geopolitical tensions are feeding into the…