economy
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.
TL;DR
- Consumer prices increased 0.9% in March, with annual inflation reaching 3.3%.
- Energy costs surged 10.9%, largely driven by the Iran conflict, with gasoline prices up 21.2%.
- Core prices, excluding food and energy, rose only 0.2% monthly and 2.6% annually.
- Areas like medical care, personal care, and used cars saw price declines.
- Energy prices have moderated in April following a ceasefire.
- Real earnings for workers decreased 0.6% for the month.
- Markets showed little initial reaction to the report.