Inflation has risen to its highest level in three years, according to federal data released Tuesday, and gas prices in Houston are up more than 50% over the past two months.

Consumer prices heated up in April, the second month of the Iran war, solidifying that the Federal Reserve will hold interest rates for now and will also be on watch for higher en

A new inflation report Tuesday shows inflation climbing to 3.8% year over year, driven by surging energy costs and the ongoing Iran War, according to economists.

Inflation is now at its highest level in nearly three years, in large part due to skyrocketing energy costs from the Iran war. Arjun Murti, partner at the energy sector firm Veriten and author of the energy-focused Substack newsletter "Super-Spiked,

Investors are beginning to fret over the possibility that interest rates could rise if inflation keeps spiraling higher.

Inflation hit a nearly three-year high in April. Prices for the goods Americans buy most are still going up, while consumer sentiment keeps falling.

New inflation data shows a concerning trend in April as the Iran war impacts Americans' wallets. CBS News' Kelly O'Grady reports.

Inflation rose to its highest level since 2023 in April as surging oil costs stemming from the Iran war drove up prices at the gas pump and impacted supply chains.