Here & Now Anytime Why consumer prices are rising fast
May 12, 2026
Wailin Wong, NPR business reporter who breaks down inflation and energy trends, explains why groceries, fuel and transport costs are climbing. Ike Freymann, Hoover Institution fellow and author on Taiwan strategy, explores U.S. one‑China policy, Taiwan’s security, semiconductor risks and what to watch in U.S.‑China talks.
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Inflation Jumped To 3.8 Percent
- U.S. inflation accelerated to 3.8% year-over-year in April, the fastest in about three years.
- Food rose 2.9% with tomatoes up ~40% due to Mexican weather disruptions and tariffs that increased import costs.
Tariffs Inflate More Than Targeted Imports
- Tariffs have indirect inflation effects beyond targeted goods, raising costs across supply chains.
- Example: tariffs on steel increased canned food packaging costs, making canned fruits and vegetables nearly 7% more expensive.
Energy Prices Ripple Through The Economy
- Energy price spikes drive widespread price increases through higher transportation and production costs.
- Airfares rose about 21% as airlines face expensive fuel and cut services; diesel spikes push up food transport costs globally.
