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Kiplinger
Kiplinger
Business
Karee Venema

April CPI Report: Higher Energy Prices Keep Inflation Hot

Inflation US Federal Reserve Kevin Warsh Middle East BLS Oil the Federal Reserve
(Image credit: Getty Images)

A slowing labor market was the Federal Reserve's main focus in mid- to late 2025. Attention has shifted to inflation in 2026 as energy prices spike amid the ongoing conflict in the Middle East.

Since late February, when the war between the U.S., Israel and Iran began, oil prices have spiked to their highest level in four years and gas prices have jumped above $4.50 per gallon.

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