Energy Price Surge from Iran Conflict Drives Inflation to Two-Year High
Inflation in the U.S. has surged to its highest level in nearly two years, driven by a significant increase in energy prices due to the conflict in Iran. The Labor Department reported a 3.3% rise in consumer prices in March compared to the previous year, with a 0.9% increase from February. Gasoline prices have risen by more than a dollar per gallon since the conflict began, contributing to the inflation spike. Core inflation, excluding food and energy, was 2.6% in March. The Federal Reserve is cautious about making quick interest rate cuts, given the persistent inflationary pressures. The central bank is also monitoring the job market, which showed signs of recovery in March. 
