US inflation hits 3.3%

The Labor Department reported a 0.9% monthly increase in the Consumer Price Index, the largest jump in four years.

Gasoline prices alone skyrocketed by 21.2% in March as the war in Iran disrupted global oil supplies.

While core inflation remained relatively stable, the overall spike has eroded wage gains for many American workers.

This economic data arrives at a sensitive political moment, intensifying the pressure on the administration to resolve the Middle East conflict.