US Inflation Jumps to Highest Level in Almost Two Years

UNITED STATES – Inflation in the US accelerated last month to its highest rate in nearly two years, as surging oil prices triggered by the US-Israel war in Iran started to spill over into the wider economy.

Gas prices rose 21.2% from February to March, where prices for fuel oil jumped more than 30%.

Prices for airline tickets and clothing also increased over the month.

Food prices were unchanged from February to March, but analysts said those may rise in the months ahead, as the impact of higher transportation and fertiliser costs starts to be felt.