Wary consumers may finally pull back on spending amid broad price hikes. “The squeeze is real,” Navy Federal Credit Union Chief Economist Heather Long said.

Although Wall Street has spent the spring of 2026 in melt-up mode, with the S&P 500 up 26% over the past year and tacking on another 8.6% in just the last month, this morning’s inflation report rattled the easy narrative.

CPI gas price index has surged 28% from a year ago, while overall energy costs are up nearly 18%, new inflation data shows.

The Iran war is already having a significant impact on prices.

The Consumer Price Index is the most commonly used measure of inflation in the United States. The CPI for all items increased by 0.9% in March 2026, on a seasonally adjusted basis, as reported by the U.

Inflation is likely to remain sticky, something that could spark more losses for stocks and bonds, JPMorgan Private Bank warned.

The Consumer Price Index is expected to have jumped 3.8% over the last 12 months in April, amplifying concerns that inflation is threatening the economy and hurting household budgets. Rising fuel costs are the main source of inflation,

The surge in gasoline prices tied to the Iran war is set to drive U.S. inflation to a three-year high — and it might get worse before it gets better.