REPORT: Inflation Hits a Three-Year High, Showing Fallout of Sullivan’s Price-Hiking Agenda

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Reporting documents the real world cost of Dan Sullivan’s price-hiking agenda on Alaskans: costs have skyrocketed on gas, groceries, and housing, with inflation jumping to its highest point in three years. 

“Alaskans are paying more at the gas pump, in the grocery store, and on their energy bill, but Dan Sullivan continues pushing the price-hiking policies that put us here,” said Alaska Democratic Party Chair Eric Croft. “Self-Serving Sullivan has been voting to raise costs on Alaskans while enriching himself by millions. We won’t stand for it, and we’ll give DC Dan the wake-up call he deserves this year.”

As a result of the Sullivan-supported war, fuel prices have skyrocketed, with the cost of airfare and shipped goods increasing in tow. Consumer prices nationwide have increased 3.8% in the past year, and 0.6% last month alone – with Anchorage-area inflation up 4.3% since last year, outpacing the national average. Meanwhile, Sullivan has been enriching himself: reporting up to $2 million in stock trades and ballooning his personal wealth while serving in the U.S. Senate.

Alaska Public Media: Inflation jumps to its highest level since 2023. Here are 3 things costing a lot more

May 12, 2026

  • The U.S. war with Iran has pushed inflation to its highest level in almost three years.

  • Consumer prices in April were up 3.8% from a year ago, according to a report Tuesday from the Labor Department. That was the biggest annual increase since May 2023.

  • Prices rose 0.6% between March and April.

  • Gasoline prices have jumped sharply since the war began, snarling tanker traffic in the Strait of Hormuz, a vital corridor for energy shipments.

  • When energy costs jump sharply, it can have spillover effects. Airfares, for example, jumped 2.8% last month and are more than 20% higher than they were a year ago, as airlines struggle with a spike in jet fuel prices. The cost of diesel fuel has risen by $1.88 a gallon since the war began. If that lasts, it could put upward pressure on the price of everything that’s delivered by truck or train.

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