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

By Alicia Wallace, CNN (CNN) — 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