US Inflation Hits 3.3% Amid Iran War Energy Shock; Consumer Sentiment Hits Record Low
US consumer prices rose 3.3% year-over-year in March, with gasoline prices surging a record 21.2% in a single month, driven by the ongoing US-Iran war and disruptions linked to the Strait of Hormuz. The White House emphasized that core inflation, excluding food and energy, came in at 2.6%, below expectations. University of Michigan consumer sentiment fell to a record low of 47.6 in April, down from 53.3 in March.
Progressive outlets emphasize that the inflation surge is broadly harming working-class Americans at the gas pump, and that the administration's dismissal of headline inflation figures downplays real economic pain felt by ordinary consumers.
Government CPI data confirms a 3.3% annual inflation rate in March driven primarily by a record 21.2% monthly gasoline price increase, while core inflation registered at 2.6%; University of Michigan data independently recorded consumer sentiment at an all-time low of 47.6 in April.
Conservative outlets highlight that core inflation at 2.6% came in below expectations, and White House officials argue the energy-driven price spike is temporary and will resolve quickly as the conflict situation stabilizes.
Government CPI data confirms a 3.3% annual inflation rate in March driven primarily by a record 21.2% monthly gasoline price increase, while core inflation registered at 2.6%; University of Michigan data independently recorded consumer sentiment at an all-time low of 47.6 in April.
US headline inflation reached 3.3% in March 2025, its highest in nearly two years, as gasoline posted its largest single-month increase on record, while consumer sentiment fell to an all-time low of 47.6 in April.