Inflation rises 3.8% in April, hitting holiday travelers and shoppers
According to a CNBC report citing federal government data, total inflation for U.S. shoppers rose 3.8% in April from the same month last year, the highest annual rate since 2023. The Iran War is cited as reigniting inflation, with sharp increases in prices for travel, recreation, and food. Consumer sentiment reached its lowest level on record in May, based on a University of Michigan survey released Friday. A record number of travelers are expected over Memorial Day weekend, with gasoline prices up more than 28% year over year and airline fares surging 20.7%. Food costs have also climbed significantly, with ground beef and steaks up 16% and tomatoes nearly 40% higher than 2025. The report is based on a single CNBC article and has not been cross-referenced with other sources.
What’s reported
Total inflation for U.S. shoppers rose 3.8% in April from a year ago, the highest annual rate since 2023, per federal government data.
Consumer sentiment hit its lowest level on record in May, according to a University of Michigan survey released Friday.
AAA anticipates 45 million Americans will travel at least 50 miles from home over the holiday period, up 0.4% from last year.
Gasoline prices soared more than 28% year over year; the national average for a gallon of unleaded gas was its highest in four years, per AAA.
Airline fares surged 20.7% from April 2025 to 2026, reaching the highest level since 2022.
Ground beef and steaks are up as much as 16% compared with 2025; frankfurters cost nearly 11% more; tomatoes are up close to 40%.
Coffee prices have soared more than 18% year over year; carbonated drinks are 3.7% more expensive.
Recreational items: movie/concert tickets up 5.5%, sporting event tickets down 10%, gardening tools up 5%.
Key figures
Stephen Juneau, senior U.S. economist at Bank of America
Chris Kempczinski, CEO of McDonald’s
Kimberly Palmer, personal finance expert at NerdWallet
Sources: CNBC
