US Consumer Prices Increased 3.3% In March Amid High Oil Prices Linked To Iran Conflict

2026-04-10 09:01:01

(MENAFN- Live Mint) CPI inflation report: US consumer prices recorded their sharpest rise in nearly four years in March, reportedly driven by higher oil prices linked to the conflict with Iran and the continued impact of tariffs, reducing the likelihood of an interest rate cut this year.

The Labour Department's Bureau of Labour Statistics reported on Friday that the Consumer Price Index (CPI) climbed 0.9% last month, the biggest increase since June 2022, when prices surged in response to the Russia-Ukraine war. This followed a 0.3% rise in February. On an annual basis, consumer prices increased 3.3% in March, up from 2.4% the previous month, according to Reuters.

The figures were in line with economists' expectations in a Reuters poll, which had projected a 0.9% monthly rise and a 3.3% year-on-year gain. The uptick in inflation came after a strong rebound in job growth, indicating that the labour market remains resilient.

(This is a developing story. More to come)

MENAFN10042026007365015876ID1110967055

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.