US inflation rose 3.8% in April from a year ago
Total inflation for shoppers increased 3.8% in April from the same month a year ago, the highest annual rate since 2023.
Prices for travel, recreation, and food saw sharp increases, with ground beef and steaks rising due to shrinking cattle herds and higher fertilizer costs.
Consumer sentiment hit its lowest level on record in May, partly due to spiking oil prices amid the Middle East war.
Companies like E.l.f. Beauty and McDonald’s are responding to inflationary pressures, with E.l.f. rolling back some price increases and McDonald’s warning of a challenging environment.