US inflation rose to 3.8% in April, eroding Americans’ paychecks

US inflation rose to 3.8% in April, eroding Americans’ paychecks

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May 13, 2026 - 15:04
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US inflation rose to 3.8% in April, eroding Americans’ paychecks
A man shops for dairy products at a local supermarket in New York City on April 9, 2026. Charly Triballeau/AFP/Getty Images

For the first time in three years, Americans’ wages are no longer outpacing inflation.

Prices rose 0.6% on a monthly basis, driving the annual rate to 3.8%, the highest since May 2023, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics.

Economists had expected prices to rise 0.6% from March and for the annual rate to climb to 3.7%.