Energy surge lifts March CPI as core inflation remains restrained
TL;DR
March CPI rose 0.9% to 3.3% year over year, led by a 21.2% spike in gasoline and a 10.9% jump in energy from the Iran conflict; core CPI gained 0.2% for the month and 2.6% annually, signaling contained underlying inflation, with pockets of price declines in medical care, personal care, and used cars. Services excluding energy rose 0.2% and shelter 0.3%. Energy pressures eased in April after a U.S.–Iran cease-fire, and markets expect the Fed to remain patient while watching the broader inflation path toward its target.
- Consumer prices rose 3.3% in March, as energy prices spiked due to Iran conflict CNBC
- Why the CPI Report Changes Little for the Fed WSJ
- Trump’s war with Iran likely tripled US inflation last month CNN
- US consumer prices surge as expected in March Reuters
- CPI Report Live Updates: Inflation Surges as the Effects of Iran War Show in Prices The New York Times
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