The consumer price index rose 2.5 percent in April, the sharpest gain in 14 months according to the Labor Department.

When you strip out the volatile food and energy sectors, core prices inched up 0.1 of a percent.

The world market is trying to sort the impact on the oil market as the U-S declined to recertify the Iran nuclear deal. Crude oil prices which topped $70 per barrel for the first time since 2014.

The cost of filling your vehicle is on the rise. According to AAA, the average price of a gallon of gas is up 45 cents than a year ago at this time. The June gasoline contract closed at a nearly 3-year high earlier this week.