NPR News: 05-12-2026 11AM EDT

The NPR News Now broadcast delivers a rapid rundown of pressing U.S. and global developments, with the ongoing war against Iran dominating economic headlines through its direct impact on inflation and federal spending. Other updates span trade diplomacy, Middle East politics, the Ukraine conflict, domestic legal actions, a public health alert, and a light cultural event.

Iran War Fuels U.S. Inflation and Escalates Costs

The Labor Department reported that April consumer prices rose 3.8% year-over-year, marking the highest inflation rate in three years. This surge stems from the war with Iran, which has closed the Strait of Hormuz and driven up energy costs—a key factor in broader consumer price increases. Concurrently, the Pentagon updated its cost estimate for the conflict to at least $29 billion, a $4 billion jump from the figure two weeks prior. These developments underscore how the war is straining household budgets and taxpayer funds, with no immediate resolution indicated.