Final demand inflation rose by 6% on an annual basis in April, marking the largest increase since 2022, the U.S. Bureau of Labor Statistics reported.

Inflation hit a nearly three-year high in April. Prices for the goods Americans buy most are still going up, while consumer sentiment keeps falling.

Prices charged by producers rose by 1.4% in April from the month before, blowing past March’s 0.7% increase, according to the Labor Department’s producer-price index.

New inflation data shows a concerning trend in April as the Iran war impacts Americans' wallets. CBS News' Kelly O'Grady reports.

The new CPI report showed annual inflation sped up to 3.8% in April, the highest rate since 2023. Higher energy prices due to the Iran war are affecting consumer prices. Prices at the pump are having unequal effects on consumers,

Wholesale prices in April rose the most in three years, signaling more nettlesome inflation as pipeline costs intensify. The producer price index rose a seasonally adjusted 1.4% for the month, much higher than the 0.

The war with Iran is squeezing US businesses at a rate not seen in nearly four years, and it’s likely to cause them to raise prices for consumers even more.

Inflation has risen to its highest level in three years, according to federal data released Tuesday, and gas prices in Houston are up more than 50% over the past two months.