Iran War Triggers US Inflation, Petrol and Airfare Prices Surge

Inflation in the United States increased again in April 2026 as the impact of the Iran war began to be felt more broadly by consumers.

Data from the US Bureau of Labor Statistics (BLS) shows that the Consumer Price Index (CPI) rose 3.8% year-on-year in April.

This figure is higher than March’s inflation rate of 3.3%. This also marks the highest inflation level since May 2023.

The rise in energy prices, particularly petrol, was the main driver of US inflation.

The surge in energy prices was triggered by the US and Israel war against Iran, which disrupted global oil distribution.

The effective closure of the Strait of Hormuz, a major global oil shipping route, caused oil prices to spike sharply in recent months.

The impact is now being felt directly by US society through rising petrol prices.

Data from the automotive association AAA shows that the average price of unleaded petrol in the US is now $4.50 per gallon, or approximately Rp78,714 per gallon, with an exchange rate of Rp17,492 per US dollar.

This level is the highest since July 2022.

Wealth Club investment manager Isaac Stell believes the situation even opens the possibility of additional interest rate hikes.

“The increase in inflation even keeps the possibility of interest rate hikes open,” Stell said.

This situation arises ahead of the Federal Reserve leadership change. Kevin Warsh, appointed by US President Donald Trump, will replace Jerome Powell as the US central bank chair in the near future.

According to Stell, Warsh will face limited policy room to manoeuvre.

“The incoming chair will enter the role with little room to manoeuvre and may be forced to take a more conservative approach,” he said.