A war-driven jump in gas prices helped push US inflation to 3.3% in March, marking the fastest annual pace in nearly two years, new Bureau of Labor Statistics data showed Friday.
On a monthly basis, prices rose 0.9%, triple the 0.3% pace seen in February, when inflation was 2.4%, the latest Consumer Price Index data showed.
Gasoline prices, which rose a record 21.2% during the month, accounted for nearly three-quarters of the overall monthly increase.
Economists had expected prices to jump 0.9% from the month before and for the annual rate to climb to 3.4%, according to FactSet.
Everyone get your mortgages while they are still cheap. If you’re planning on buying pretty much anything buy it now. Get a new EV, new computer, new boat and do that renovation in your summer house you’ve been postponing all this time. Everything is about to become way more expensive.
The war is a terrible idea.
It’s a great idea, just not for us. If you’re a billionaire, war is an awesome idea to get more money one way or another.
If you’re a convicted felon with many more charges to come, it’s also a good way to delay prison time.
I bet in a couple of years Americans will look back to this as the good old days.
