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.

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.

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,

Rising gasoline prices pushed inflation to its highest level in almost three years in April. Consumer prices were up 3.8% from a year ago.

Inflation accelerated in April to an annual rate of 3.8%, the highest since May 2023, as the Iran war pushed up energy costs and raised prices across the economy. Economists predicted inflation would jump to 3.

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.

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.