US inflation increased at fastest pace in three years in April as Iran war hikes up prices

Americans are growing frustrated with Trump’s handling of the economy as cost of living soars ahead of midterms US inflation increased at its fastest pace in three years in April, driven by higher energy prices amid the war with Iran, and cementing economists’ views that the Federal Reserve could hold interest rates unchanged well into next year. Surging price pressures are eroding household income and could restrain consumer spending and economic growth this quarter. Income at the disposal o...

By Guardian staff and agencies