(AURN News) — Inflation jumped to 3.3% in March, the highest level in nearly two years, and for millions of Americans, relief from rising prices feels further away than ever.
The Bureau of Labor Statistics released figures this morning showing consumer prices surged nearly 1% in a single month — the biggest one-month spike since the summer of 2022.
Gas has crossed $4 a gallon nationally for the first time in more than three years, with diesel climbing more than 50% to nearly $5.70.
The U.S.-Israeli military campaign against Iran launched in February has choked off the Strait of Hormuz, the narrow waterway that carries roughly one-fifth of the world’s oil, and the energy shocks are now rippling through the broader economy.
Elizabeth Pancotti, managing director of policy and advocacy at Groundwork Collaborative, said the “toll of Trump’s war in Iran won’t stop at the pump” as the conflict stokes chaos in supply chains worldwide.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
