U.S. consumer sentiment plunged to a record low in early April and consumers anticipated a surge in inflation in the next 12 months, a survey showed Friday.
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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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