Skip to content
3.8%
Wall Street Journal: “Consumer prices rose 3.8% in April from a year earlier, a clear impact of higher gas prices since the start of the war with Iran. … The figures, reported Tuesday by the Labor Department, surpassed the previous month’s reported increase of 3.3%. Economists polled by The Wall Street Journal had expected inflation of 3.7%.”
$4.54
Bloomberg: “The nationwide average retail price for regular unleaded gasoline rose to $4.54 a gallon on Tuesday, according to the American Automobile Association, and is now around 50 cents off the record $5.01 set in June 2022. … On a seasonal basis, prices are already at an all-time high for this time of year.”
30%
A new AP-NORC poll finds President Trump’s approval rating on the economy dropped to 30% in April — down from 38% in March.
30%
A new AP-NORC poll finds Donald Trump’s approval rating on the economy dropped to 30%, down from 38% in last month’s poll.
4%
“U.S. wholesale prices surged last month as the Iran war drove up the cost of energy,” the AP reports. “The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.5% from February and 4% from March 2025. The year-over-year gains was the biggest in more than three years. Energy prices surged 8.5% from February.”
“The unemployment rate is 4.3%, for heaven’s sake! That’s a boom, for God’s sake!”
— White House economic adviser Kevin Hassett, on Fox News. The unemployment rate was 4% when Joe Biden left office.
60%
Financial Times: “Oil prices posted the biggest rise in decades this month as the war in Iran chokes global energy supplies and sends shockwaves across major financial markets and economies. … “Brent crude, the international benchmark, settled at $118.35 on Tuesday, close to its highest level since the start of the conflict in the Middle East, as traders fearing a prolonged shutdown of the Strait of Hormuz rushed to secure cargoes. … The price has risen more than 60 percent in March, eclipsing the previous record gain of 46 percent following Iraq’s invasion of Kuwait in 1990.”
+$4
U.S. gas prices jumped past an average of $4 a gallon for the first time since 2022 on Tuesday, as the Iran war pushes fuel prices higher worldwide, reports the Associated Press. According to AAA, the national average for a gallon of regular gasoline is now $4.02 — over a dollar more expensive than before the war began on Feb. 28, marking the largest monthly jump the motor club has seen on record.
“It would hurt consumers and we’d have to think about if that continued… But that’s like really the last of our concerns right now.”
— Trump economic adviser Kevin Hassett told CNBC if the Iran war “were to be extended, it wouldn’t really disrupt the U.S. economy very much at all.”
59%
A new Economist/YouGov Poll finds 59% of Americans say the economy is getting worse.
