U.S. inflation surged to its highest level in more than two years in April

Energy costs, driven by the Iran war, accounted for more than 40% of the monthly increase in consumer prices

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U.S. consumer prices rose 3.8% over the 12 months ending in April, the Bureau of Labor Statistics reported Tuesday — the fastest annual pace since May 2023, according to Bloomberg.

The Consumer Price Index for All Urban Consumers climbed 0.6% on a seasonally adjusted basis in April, following a 0.9% increase........

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