Soaring pump prices drive US inflation to highest level in almost two years
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Inflation in the US accelerated last month to its highest rate in nearly two years, as surging oil prices triggered by the US-Israel war in Iran started to spill over into the wider economy.
Consumer prices climbed 3.3% over the 12 months to March, picking up from 2.4% in February, the Labor Department said.
The jump, which was expected, marked the biggest monthly change since 2022, when the world was dealing with an energy shock brought on by Russia’s invasion of Ukraine.
Last month’s inc
Consumer prices climbed 3.3% over the 12 months to March, picking up from 2.4% in February, the Labor Department said.
The jump, which was expected, marked the biggest monthly change since 2022, when the world was dealing with an energy shock brought on by Russia’s invasion of Ukraine.
Last month’s inc
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