A two-year high in US inflation was recorded in March, largely due to the repercussions of the conflict in Iran, which led to a significant spike in energy costs.
The Consumer Price Index, a benchmark for everyday expenses, increased by 3.3% year-over-year, surpassing the 2.4% rate in February.
Fuel prices skyrocketed by 21% in a single month, marking the largest such increase since 1967, with the average gallon price reaching $4.15, approximately 40% higher than pre-war levels.
The White House characterized the disruption as temporary, but economic experts cautioned that food prices are poised to continue rising in April.