Scott Horsley

That's also starting to show up in the price of other goods and services.

The price of plane tickets, for example, is up more than 20 percent from a year ago, as airlines struggle with soaring jet fuel prices.

Higher trucking costs may have also contributed to a sharp monthly jump in grocery prices.

Scott Horsley, NPR News, Washington.

AAA says the average price of regular gas today is $4.50 a gallon.

That's up more than a buck and a half since the war began.

And that's expected to be a significant driver of inflation in April, just as it was in March.

Forecasters think the annual inflation rate last month climbed to 3.7, maybe 3.8%.

If so, that would be the highest inflation we've seen in at least two and a half years.

You don't need the Consumer Price Index to know how the war is affecting energy prices.

Just check out the sign at your corner gas station.

Gasoline and diesel prices have risen sharply since the war brought tanker traffic and the Strait of Hormuz to a standstill.

The high cost of jet fuel is also pushing up the price of airline tickets.

Overall, forecasters expect today's report to show the annual inflation rate in April was the highest it's been in at least two and a half years.

That's likely to make the Federal Reserve cautious about cutting interest rates, despite pressure from President Trump...

Last month, three members of the Fed's rate-setting committee hinted their next move could just as easily be a rate increase.

Scott Horsley, NPR News, Washington.

Good morning.

We've all seen the impact of the gas pump.

AAA says the average price of regular gas today is $4.50 a gallon.