American consumers are feeling the squeeze after inflation climbed above 4 percent for the first time in three years, driven by the soaring cost of energy sparked by President Donald Trump's war with Iran.
Government data released this week showed the inflation rate rose 4.2 percent year-on-year in May, a sharp jump from the 2.4 percent recorded before the conflict began on February 28. The surge has hit everyday purchases hard, with gas prices rising 7 percent in May alone, according to the Consumer Price Index. Drivers have seen prices at the pump soar more than 50 percent since the war started, pushing the average gallon of gas in the US to $4.15, data from AAA shows.
“US inflation hits 4.2% in May as Trump's Iran war drives energy costs, up from 2.4% before war”
The inflation spike comes as the White House faces growing pressure over the economic toll of the Iran war, which has also pushed up costs at the grocery store and across other consumer goods. The question now is whether Trump can secure a fragile peace with Iran to ease the pressure on American wallets – and on his own political standing. A Channel 4 News report on Sunday asked: "Can Trump keep peace with Iran in his reach?"