Inflation spikes to 3.5 percent in March as Iran war drove prices higher
Summary
In March, the inflation rate in the United States rose to 3.5 percent due to higher prices driven by the war in Iran. This increase is shown by the personal consumption expenditures (PCE) price index, as reported by the Commerce Department.Key Facts
- Inflation in the U.S. rose to 3.5 percent in March.
- The inflation rate was previously 2.8 percent.
- The increase is linked to the conflict in Iran.
- The Commerce Department released this data on Thursday.
- The inflation measurement used is the PCE price index, which tracks changes in consumer expenses.
- Higher prices affect the cost of goods and services that people buy.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.