“U.S. inflation surged in March as the energy shock stemming from the war in Iran rippled across the economy.”
“The Consumer Price Index report showed that inflation jumped to 3.3 percent compared to the same time last year, almost a full percentage point increase from February’s annual pace. Overall prices rose -0.9 percent over the course of March.”
“This latest surge in inflation means that “real,” inflation-adjusted wage growth for workers is in negative territory. Real average weekly earnings decreased 0.9 percent in March.”
“Airfares rose 2.7 percent in March and were up 14.9 percent from a year earlier. Other than energy itself, air travel is one of the first places the effects of the war have shown up in consumer prices.”
“The energy component of the index jumped 12.5 percent, a couple of percentage points higher than analysts had been expecting. That only pushes up the headline number, but may start feeding through into core categories in the coming months.”
“The price of regular gasoline in the United States jumped 25 percent between February and March, the highest monthly percentage increase on record, according to data from the Energy Information Administration. The surge highlighted how quickly the U.S.-Israeli war with Iran, now in its sixth week, has echoed through daily life across the world.”
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*Thank you Trump*
“U.S. inflation surged in March as the energy shock stemming from the war in Iran rippled across the economy.”
“The Consumer Price Index report showed that inflation jumped to 3.3 percent compared to the same time last year, almost a full percentage point increase from February’s annual pace. Overall prices rose -0.9 percent over the course of March.”
“This latest surge in inflation means that “real,” inflation-adjusted wage growth for workers is in negative territory. Real average weekly earnings decreased 0.9 percent in March.”
“Airfares rose 2.7 percent in March and were up 14.9 percent from a year earlier. Other than energy itself, air travel is one of the first places the effects of the war have shown up in consumer prices.”
“The energy component of the index jumped 12.5 percent, a couple of percentage points higher than analysts had been expecting. That only pushes up the headline number, but may start feeding through into core categories in the coming months.”
“The price of regular gasoline in the United States jumped 25 percent between February and March, the highest monthly percentage increase on record, according to data from the Energy Information Administration. The surge highlighted how quickly the U.S.-Israeli war with Iran, now in its sixth week, has echoed through daily life across the world.”