India, May 12 -- United States consumer prices climbed faster than expected in April, according to the data released Tuesday, as the intensifying conflict with Iran sent energy prices soaring and complicated the US Federal Reserve's efforts to stabilise the economy. The prices for the everyday consumer rose at the fastest rate since May 2023, with the spike in the cost of gasoline and groceries pushing the consumer price index (CPI).

The Consumer Price Index (CPI) report highlighted a stubborn inflationary environment exacerbated by geopolitical instability, leaving American households facing higher costs of living and even costlier gasoline, electricity, and essential goods. The inflation is highest since hitting 4% three years ago. Acc...