U.S. Inflation Rises to 3.3% in March

U.S. consumer prices jumped 0.9% in March, lifting the annual Consumer Price Index to 3.3%. That 3.3% reading is much hotter than February’s 2.4% gain and marks the highest inflation rate since May 2024. The increase was driven by a spike in gasoline and energy costs, as the Iran war pushed global energy prices higher. The surprise rise tightens pressure on household budgets, complicates the Federal Reserve’s policy path, and could roil markets.