US Inflation Rises Amid Iran Conflict Uncertainty

US inflation rose sharply in March. This is happening during the US-Israel war with Iran. Prices increased by 0.9% from last month and by 3.3% from last year.

The consumer price index (CPI) measures the cost of common goods and services. This rise is the biggest in nearly two years. The conflict is affecting prices because Iran blocked the strait of Hormuz. This strait is an important route for oil and gas.

In March, energy prices rose by 10.9%. Gasoline prices went up by 21.2%. Airfares also increased by 2.7% compared to the previous month.

Core inflation, which excludes food and energy prices, increased by 0.2% for the month. The annual inflation rate has not gone above 3% since mid-2024. Last summer, inflation was very high at 9.1%.

Rising prices are making people worry. A survey showed that consumer confidence fell by 10.7%. Many people blame the conflict for the bad news about the economy. Despite this, the job market remains strong. Employers added 178,000 jobs in March, and the unemployment rate fell to 4.3%.

How much do you know?

What was the percentage increase in prices from last month?

0.9%

3.3%

10.9%

21.2%

By how much did energy prices rise in March?

0.2%

10.9%

21.2%

3.3%

What is the annual inflation rate's maximum since mid-2024?

3%

9.1%

2.7%

4.3%

What caused the rise in prices according to the document?

US inflation

Consumer confidence

US-Israel war with Iran

Job market strength

How much did gasoline prices increase?

10.9%

21.2%

2.7%

0.2%

What was the unemployment rate after the job additions in March?

4.3%

3.3%

10.7%

9.1%

US inflation rose sharply in March 2023.

True False

The consumer price index (CPI) measures the cost of labor only.

True False

Gasoline prices rose by 21.2% in March.

True False

Core inflation excludes food and energy prices.

True False

Consumer confidence rose by 10.7% due to the conflict.

True False

Employers added 178,000 jobs in March.

True False

In March, prices increased by from last month.

The rise in prices is the biggest in nearly years.

Iran blocked the strait of , affecting prices.

Last summer, inflation was very high at %.

The unemployment rate fell to %.

Consumer confidence fell by %.

This question is required