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Benzinga
  • 1 day ago
U.S. consumer prices rose 0.9% in March, the largest increase in nearly four years, driven by a 21.2% surge in gasoline prices tied to the Iran war. Annual CPI climbed to 3.3% from 2.4% in February. Core CPI rose just 0.2%. Economists expect further inflation from energy costs and no interest rate cuts this year.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. consumer prices rose by 0.9% in March, their largest increase in nearly four years,
00:08as the Iran war drove record spikes in gasoline and diesel costs, according to Reuters. A 21.2%
00:13surge in gasoline prices accounted for nearly three-quarters of the CPI increase, while other
00:17motor fuels, including diesel, rose a record 30.8%. In the 12 months through March, CPI rose 3.3%
00:24after increasing 2.4% in February, highlighting affordability pressures for consumers and rising
00:29political risk for Trump. The jump followed a more than 30% rise in global crude oil prices linked
00:34to the Iran war, which pushed average gasoline prices above $4 per gallon. Core CPI rose 0.2%
00:40as declines in used cars, health insurance, and prescription drugs offset broader pressures.
00:44Economists expect further inflation from higher energy costs and do not anticipate interest
00:48rate cuts this year. For all things money, visit Benzinga.com.
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