This post is part of a series chronicling news coverage of rising prices in the United States. See more here.
Fox 5 New York reporter on the latest inflation report: “This is bad news on multiple levels. ... If there is a war on inflation right now, Americans are losing.”
Reporter: “Because a significant portion of the world's oil does go through the Strait of Hormuz, gas prices have been the first to go up, but economists right now say they are actually worried that the rise in energy prices is about to spill over”
Published
Video file
Citation
From a May 12, 2026, video uploaded to the YouTube channel of WNYW Fox 5 New York
ARTHUR CHI'EN (FOX 5 NEW YORK REPORTER): Crunching the numbers, and Steve and Natasha, they do not look good. This is bad news on multiple levels. Not only is inflation going up by nearly 4% in this time, but it happens as wages for Americans is actually going down. So, if there is a war on inflation right now, Americans are losing.
We are in New Rochelle. We are on Main Street, and this gas station is indicative of what's going on. They're not doing anything wrong, but the prices of -- the prices for gasoline here, show the problem that Americans face right now. It is $4.76 here, since there's no such thing as a tenth -- nine tenths of a penny. And it is $6 a gallon for diesel. Over in the city, it's even worse. We have seen some gas stations with prices in excess of $7 a gallon already. That's at gas stations in the city.
While inflation and consumer prices rose specifically 3.8%, the financial shock comes as a ten-week war with Iran has driven up gas prices, a pain that most Americans are feeling now. Now, because a significant portion of the world's oil does go through the Strait of Hormuz, gas prices have been the first to go up, but economists right now say they are actually worried that the rise in energy prices is about to spill over on -- over and drive prices for other goods that need to be transported up. And when you think about it, especially here in New York, a lot of things get transported.