US wholesale prices climb 6% in April on gasoline surge
Business
US wholesale prices rose 6.0% year-on-year in April, making it the biggest jump since late 2022.
The main culprit? Energy costs, especially gasoline, which soared by nearly 16%. This made up a huge chunk of the price hike.
Even month to month, inflation rose faster than expected.
Iran blockade complicates Trump's inflation fight
Global tensions are playing a big part here: Iran's blockade of a major oil route after U.S.-Israeli strikes has pushed energy prices higher.
Consumer inflation is now at its highest in three years.
President Trump has been trying to tackle inflation, but with midterm elections coming up and tariffs and the Iran war still ongoing, it's turning into a real challenge for his team, and something voters are watching closely.