New York Post
28 May 2026, 15:31 UTC · 3h ago
Source · https://nypost.com/2026/05/28/business/inflation-gauge-worsens-as-iran-war-sends-food-energy-prices-surging/
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US PCE inflation jumped to 3.8% year-on-year in April, the fastest pace in three years. — Higher than expected inflation puts upward pressure on interest rates and erodes consumer purchasing power.
-0.80The Federal Reserve may hold interest rates unchanged into next year, with some policymakers open to hiking rates. — A 'higher for longer' or hiking regime increases borrowing costs and typically compresses valuations for risk assets.
-0.70Conflict with Iran has disrupted the Strait of Hormuz, causing national average retail gasoline prices to rise 12.3% in April. — Energy shocks act as a tax on consumers and increase input costs for businesses across the economy.
-0.60Consumer spending growth slowed to 0.5% in April from 1.0% in March as inflation outpaces wage gains. — Slowing consumer spending, the primary driver of US GDP, signals a potential economic slowdown or recessionary pressure.
President Trump's approval ratings have fallen to near-record lows due to economic frustration and rising prices. — Political instability and a threatened congressional majority can lead to policy uncertainty and market volatility.
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