A war-driven jump in gas prices helped push US inflation to 3.3% in March, marking the fastest annual pace in nearly two years, new Bureau of Labor Statistics data showed Friday.

Inflation in the US has surged by its highest amount in three years – despite Mr Trump chastising Joe Biden for inflation when his predecessor was in office.

Disruptions linked to near-closure of the strait have ‌prompted producers ⁠to curtail exports, with a Reuters survey on Monday showing OPEC oil output in April fell to its lowest level in over two dec...

For the first time in three years, Americans’ wages are no longer outpacing inflation. Prices rose 0.6% on a monthly basis, driving the annual rate to 3.8%, the highest since May 2023, according to the latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics.

Even though inflation is hot, the mechanism is demand destruction: higher gasoline/food costs squeeze consumers, slowing growth. That combination typically eventually drives a “growth scare” bid for long Treasuries,

The Producer Price Index, a measure of wholesale inflation, increased to 6% on an annual basis from 4% in March, well exceeding economists’ expectations.

The current inflationary pressure intensified after the United States and Israel attacked Iran on February 28.