the march inflation report from BLS dropped today:
nothing we didn't already know or expect, but still staggering to see how dramatic an impact trump's war in iran had on the headline inflation rate. 0.9% is the highest monthly increase since june 2022, during the peak of covid-era inflation surge.
Quote:
- The consumer price index increased a seasonally adjusted 0.9% in March putting the annual inflation rate at 3.3%.
- However, core prices rose much less just 0.2% for the month and 2.6% from a year ago, both 0.1 percentage point below forecast, indicating that underlying inflation was contained.
- The Iran conflict was the story for the monthly inflation reading, as gasoline soared 21.2%, accounting for nearly three-quarters of the headline price increase, according to the BLS.
nothing we didn't already know or expect, but still staggering to see how dramatic an impact trump's war in iran had on the headline inflation rate. 0.9% is the highest monthly increase since june 2022, during the peak of covid-era inflation surge.