Inflation rises again as fuel prices climb

Inflation surged to its highest level in nearly three years in April, up 0.6 percent from March and 3.8 percent year-over-year, according to government data. The sharp rise was driven largely by gasoline prices, which jumped 5.4 percent in a single month and 28.4 percent over last year, with the national average now $4.50 per gallon. The ongoing war with Iran has disrupted key oil shipping routes, pushing energy costs higher. This pressure is also raising prices for food, rent and other everyday essentials, adding strain to governments, businesses and household budgets nationwide. Stock markets reacted negatively, with the Dow dropping about 0.5 percent as investors worry that high inflation may delay interest rate cuts.