Consumer prices rose 3.3% in March, as energy prices spiked due to Iran conflict
The consumer price index was expected to show a 3.3% year-over-year gain in March, according to the Dow Jones consensus.
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Inflation Surges to 3.3% in March
U.S. consumer prices increased by the most in nearly four years in March as the war with Iran boosted oil prices and the pass-through from tariffs persisted, further diminishing chances for an interest rate cut this year.
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Inflation held sticky at 3% as U.S. headed into war with Iran, key Fed gauge shows
The gauge released Thursday offers the Federal Reserve a snapshot of conditions leading into the Iran war.
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Brent Crude Tops $98 on US-Iran Ceasefire Doubts
Oil prices are climbing back toward $100 per barrel Thursday, while stock markets worldwide slow following their big gains from the day before.
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Texas Record Oil Production Stabilizing US Supply Amid War
Last year's record oil production in West Texas has helped the United States supply remain stable despite stockpiles facing a tight squeeze around the world because of the war in Iran, according to experts.
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PCE Inflation Holds Steady at 2.8% in February
U.S. inflation increased as expected in February and likely rose further in March amid the war with Iran, a trend that is expected to discourage the Federal Reserve from cutting interest rates for a while.
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