Inflation rose to 3.5% in March in Fed’s preferred gauge because of Iran war fallout
Inflation jumped seven tenths of a percentage point to 3.5% for the year ending in March in the personal consumption expenditures index, the Bureau of Labor Statistics reported Thursday.
The surge in energy prices from the conflict with Iran drove much of the increase in headline inflation.
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PCE inflation hits 3-year high
- Fed’s preferred inflation gauge hits 3-year high as gas prices spiked on Iran war NY Post —
- Key inflation gauge jumps to highest level in 3 years as Iran war spikes gas prices PBS —
- US economy grows 2% as layoffs plunge to 55-year low, inflation lingers NY Post —
- Inflation hits nearly 3-year high as gas prices spike 21% in one month Scripps News —
- U.S. economy grew 2% from January-March, but Iran war clouds outlook PBS —