US inflation rises by most in nearly 4 years as Iran war boosts prices

Consumer inflation in the United States increased by the most in nearly four years in March as the war with Iran boosted oil prices and the pass-through ⁠from tariffs persisted, further diminishing chances for an ⁠interest rate cut this year. The Consumer Price Index (CPI) jumped 0.9% last month, the Labor Department's Bureau of Labor Statistics said on Friday, the largest increase since June 2022, when prices soared in ​response to the Russia-Ukraine war.