National

Trump says he's pausing plan to attack Iran

Iran's new offer is insufficient, risks war resumption: senior U.S. official

Iran risks resuming war with insufficient offer: Senior U.S. official

Trump warns Iran "clock is ticking" until U.S. launches harder strikes

The next supply-chain squeeze may hit motor oil

Trump's killer quote exposes his bind on Iran and inflation

Generate

Axios Generate

The energy squeeze behind the Iran war and AI boom

Macro

Axios Macro

The U.S. inflation problem is getting worse

A line chart that tracks year-over-year producer price index changes from April 2016 to April 2026 for overall final demand and a core measure excluding food, energy and trade services. Overall the index peaked at 11.6% in March 2022, and reached 6% in April 2026.

Change in Producer Price Index

Data: Bureau of Labor Statistics; Chart: Neil Irwin/Axios

Iran war energy shock squeezes U.S. paychecks

A line chart that compares monthly year-over-year changes in consumer prices and average hourly earnings from January 2021 to April 2026. CPI rises from 1.4% to a peak of 9% in June 2022, then eases to 2.3% in April 2025 before reaching 3.8% in April 2026. Wage growth peaks at 5.9% in March 2022.

Year-over-year change in wages vs. inflation

Data: Bureau of Labor Statistics; Chart: Axios Visuals

Inflation hits three-year high in April as Iran war impacts consumer prices

A line chart that tracks monthly year-over-year CPI changes from January 2021 to April 2026 for overall inflation and core inflation, excluding food and energy. Overall CPI rose from 1.4% to 9% in June 2022, then eased to 2.3% in April 2025 before reaching 3.8% in April 2026.

Year-over-year change in Consumer Price Index

Data: Bureau of Labor Statistics; Chart: Courtenay Brown/Axios

Trump's uphill climb on gas taxes

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