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The Bureau of Labor Statistics released the latest consumer price index data which showed that CPI inflation surged in March as the Iran war's imapct took a toll on consumer prices.
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Prices rose 3.3% in March compared to a year earlier, a steep rise after an oil shock triggered by the U.S.-Israeli war with Iran
The largest monthly jump in gas prices in six decades caused a sharp spike in U.S. inflation as energy prices rise due to the Iran war.
