Mumbai, April 13 -- U.S. consumer prices increased sharply in March, mainly due to higher energy costs caused by the Iran conflict, according to a Bureau of Labor Statistics report released Friday.
The Consumer Price Index (CPI) rose 0.9% in March, pushing the annual inflation rate to 3.3%, up from 2.4% in February and the highest since April 2024.
Energy prices were the main driver, jumping 10.9%, with gasoline surging 21.2%, accounting for nearly three-quarters of the overall increase.
However, underlying inflation remained relatively stable. Core inflation, which excludes food and energy, rose just 0.2% for the month and 2.6% year-on-year, both slightly below forecasts.
Some categories even saw price declines, including medical care,...