Inflation Surges: Gas Prices Skyrocket, Core Inflation Rises
Mesa News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Inflation surges in March, driven by a massive gas price hike, with the nationwide average reaching $4.15 per gallon. The consumer price index soared by 3.3% year-over-year, the highest since May 2022, and a 0.9% monthly increase. Core inflation, excluding food and energy, rose to 2.6% year-over-year. While used car prices eased, food costs may soon rise due to increased shipping expenses. Oil prices dropped below $100 after a US-Iran ceasefire announcement, and the Fed is expected to pause rate cuts, focusing on core trends amidst the gas price turmoil.
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