US consumer inflation surges 3.3% year-on-year as Iran war impact bites
TDT | Washington
Email: mail@newsofbahrain.com
US consumer inflation surges 3.3% year-on-year as Iran war impact bites Washington, United States Consumer inflation in the United States rose sharply to 3.3% in March, government data showed Wednesday, as higher energy prices due to the war in the Middle East hit Americans hard.
The nationwide sticker shock put pressure on President Donald Trump, who has ordered peace talks with Iran.
By comparison, the consumer price index (CPI) rose only 2.4% year-on-year a month earlier.
Gasoline prices surged by 21.2% between February and March -- the largest monthly increase since the the government began publishing a gasoline price index in 1967, the US Bureau of Labor Statistics (BLS) said.
Excluding volatile energy and food prices, inflation accelerated, rising 2.6% compared to 2.5 a month earlier.
Markets had anticipated the surge, according to the consensus published by MarketWatch.
Related Posts