Consumer Prices Climbed 3.3% Over The 12 Months To March, Picking Up From 2.4% In February. This Is The Biggest Jump Since 2022 When Russia Invaded Ukraine As The Aftermath Of Surging Of Oil Prices Continue To Affect The American Citizens At Home
According to BBC, inflation in the US has a two year high as consumer prices have climbed to 3.3% over the 12 months to March, picking up from 2.4% in February. The sharp increase demonstrates the key role of the US-Iran war in creating global energy shock and rapidly increasing the price of petrol and diesel globally.
According to BBC: “Gas prices rose 21.2% from February to March – the biggest monthly increase since the government started tracking the figures in 1967. Prices for fuel oil jumped more than 30% in the biggest surge since February 2000.” The aftermath of the US-Iran war has therefore undoubtedly become the driving force behind the sharp increase in Consumer Prices.
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