Inflation expected to climb to highest level in 2 years
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The Bottom Line
Inflation is expected to climb to its highest level in nearly two years, driven by gasoline prices.
How This Affects You
Your cost of living will likely increase as inflation climbs, primarily due to higher gasoline prices caused by the Iran war.
AI Summary
The federal government is expected to report that inflation will climb to its highest level in nearly two years. This surge is primarily driven by a spike in gasoline prices. The increase in gasoline costs is attributed to the ongoing war with Iran. The federal government will deliver its cost-of-living report on Friday.
What's Being Done
The federal government will deliver its cost-of-living report on Friday.
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Economy & Markets
Monitoring the US and global economy including inflation, employment, Federal Reserve policy, trade tensions, market volatility, housing affordability, and the financial pressures facing American households.
Iran & Middle East Conflict
Tracking the evolving military and diplomatic situation across the Middle East, including US-Iran tensions, Israeli operations, proxy conflicts, and the broader geopolitical implications for the region.
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FinanceUS service sector cools in March, inflation heating up amid Iran war - Reuters
<a href="https://news.google.com/rss/articles/CBMisgFBVV95cUxQVDRqY0NjWnFXcGtMbVgtS0VsWU9TTEItcDFvelh4dno0d2pkT0xyYXNzOGN1OExlcTRUNVhlUWhBdnA4NTVjODZXNmRFSkp6QmQ5bE5id2ZHUUZpbjVSMGNjTzBMU1BuS1ViMmY2Q2ZVZk9xaVhiUE94Y0JZbHE5YnBMQWlIdlAzbnhYS1dFSTJGalRRcmd5ZFpxWXp6a1duSnBrOVktSHVCWEplNmJKdVdn?oc=5" target="_blank">US service sector cools in March; price paid measure highest in 3-1/2 years</a> <font color="#6f6f6f">Reuters</font>
FinanceInflation was cooling. The Iran war could send it racing higher again.
Economic forecasts show that this week's March Consumer Price Index could show prices climbing at their fastest pace in nearly two years.
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FinanceKey Fed official sees possible rate hike amid higher gas prices, inflation concerns - AP News
<a href="https://news.google.com/rss/articles/CBMiogFBVV95cUxNS0t3MjZSMlpPbEc2N18xV2VwRlBINm1nR09OeE53U2dSSTZhdHlJd181bGsyNlhzYXY0V1NLcHUwZGtWblNDLW1nTTNOc3pjcnRsRVJNd2YtS0pkNjlsb09YbnpKa2RzZmtBTUdFeTZNUTBmb2Ftd2UtRjJ1QTBaQjg5QlEwdXRLeEF0VWZDOUFmT1g4MFZWMjdBcjY3TVZ1SWc?oc=5" target="_blank">Key Fed official sees possible rate hike amid higher gas prices, inflation concerns</a> <font color="#6f6f6f">AP News</font>
FinanceJPMorgan's Dimon warns Iran war may drive inflation and interest rates higher - Reuters
<a href="https://news.google.com/rss/articles/CBMiwwFBVV95cUxOOFItZ1lCRWJEZ3hkWlpnaGpFR0R3cTRtTTR5Z1dtemlwSVkxMzVFc3JVRUFpY1FMYzJQakRHLWo2Rl95SDJuN0ptWkhZbHhtdVU4emRLanFFS2kyZGcyQ2x1enJXM0pqa2hnYjNrUEVIMm5OTXdDejVDNFVZa3pTd01xZTZQbGJ4NVhyeXpDR3JWNHFsQ05iNlk5MmlNR3FFZldMZU5SS0xRaGM1TlFVdTMtZW9OUWxwVGdzdTNtcU5WYzg?oc=5" target="_blank">JPMorgan's Dimon warns Iran war may drive inflation and interest rates higher</a> <font color="#6f6f6f">reuters.com</font>
America’s Cost-of-Living Crisis Is Really a Pay Crisis
The true culprit behind America’s affordability issue “is that employers have had too much power and too little motivation to share gains," writes economist Arindrajit Dube.
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