Metro Phoenix Inflation Hits 3% in April as Iran War Drives Fuel Prices Higher

3 articles · Updated · KTAR.com · May 13

3% annual inflation in metro Phoenix in April marked the area's highest reading in nearly three years, up from 1.7% in February and still below the 3.8% national rate.
1.7% price growth over the last two months coincided with the Iran war, which has lifted fuel costs as shipping through the Strait of Hormuz is disrupted.
Fuel was the main driver: excluding food and energy, Phoenix core inflation held at 1.7% in April, unchanged from February.
Economist Jim Rounds said higher fuel costs ripple through the economy because goods must be transported, adding to grocery and other consumer prices.
Phoenix last topped 3% inflation in August 2023, and Rounds noted prices never fell after the pandemic-era surge, leaving new increases piled onto already elevated costs.

Beyond the gas pump, how is the Mideast conflict about to make your groceries and flights significantly more expensive?

As fuel prices skyrocket for consumers, which corporations are seeing record profits from the chaos in the Middle East?

With a vital oil artery blocked by war, are we witnessing the permanent collapse of a key global trade route?