US Top News and Analysis | Consumer prices rose 3.8% annually in April, the highest since May 2023 AI generated summary, Read the full article for complete information. Consumer prices rose 3.8% year‑over‑year in April—the highest rate since May 2023—after the consumer price index posted a 0.6% monthly gain, with core CPI up 0.4% and core inflation at 2.8%; the surge was driven chiefly by energy prices, which jumped 3.8% (gasoline up 28.4% annually), and also by food (up 0.5%), shelter, apparel, airline fares and household furnishings, while real average hourly wages slipped 0.5% for the month and 0.3% annually, prompting negative stock‑market futures, higher Treasury yields and an increase in market odds of a Federal Reserve rate hike by year‑end to about 30% as the Fed holds rates amid internal dissent. Read more: https://www.cnbc.com/2026/05/12/cpi-inflation-april-2026-.html #FederalReserve #CMEGroup #DowJones