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Inflation is moving on UP! CPI for April came in at 3.8% mainly due to Strait of Hormuz closure.

Iran war is starting to seep into U.S. Economy

Author

Chris Gore
May 12, 2026

As expected, the numbers weren’t good, not terribly bad, but not good. Inflation just hit 3.8% in the latest CPI report, the highest number we’ve had in awhile. Wages are now lower than CPI at 3.5% leaving most with a pay cut. You can thank the Strait of Hormuz.

Here is a look where the increase is coming from:

  • Energy Costs are the Main Driver: This is the heaviest blow to the budget. Gasoline is up 18%, and when you factor in fuel oil, some energy categories have spiked over 40%.

  • Transportation is Soaring: Getting around is getting expensive. Transportation services rose 14.9%, largely due to a massive jump in airline fares and the rising cost of vehicle repairs.

  • Groceries are the Only Bright Spot: If there is any good news, it's at the supermarket. Grocery prices rose just 1.9%. While still an increase, it’s far below the headline inflation rate and provides a small amount of breathing room for families.

The "last mile" of bringing inflation down is proving to be a steep uphill climb, driven largely by energy blockades and geopolitical tensions that act like a tax on everyone.
So, will this uptrend continue? Stay tuned to Gore Clips as we keep breaking down the data. 💪🏾

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