US CPI April 3.8% YoY Rise

April CPI rose 0.6% MoM and 3.8% YoY, the highest since May 2023, driven by surging energy prices.
Core CPI increased 0.4% MoM and 2.8% YoY, while energy index contributed over 40% of headline growth.
Markets slipped, with the S&P 500 down about 0.6% and traders pricing in additional Fed rate hikes for later 2026.
Analysts warn that persistent oil‑price shocks and shelter cost gains could keep inflation elevated, limiting near‑term rate‑cut prospects.