US consumer prices rose 3.8% in April 2026, the largest annual increase in nearly three years, driven primarily by energy costs tied to the Iran conflict. The figure exceeded consensus forecasts of 3.7% and means typical household costs climbed roughly $380-400 over the year at current spending levels. The PolitiFact fact-check you referenced rated Trump's claim that inflation has 'come down' as Half True — while inflation has eased from 2022 peaks (when it hit 9%), the recent April jump shows momentum reversing and prices still above pre-war levels, making both directions of comparison technically valid depending on which timeframe you emphasize.