US CPI March 2026 Jumps 3.3% YoY

US CPI rose 3.3% YoY in March, up from 2.4% Feb, near 3.4% forecast, largest since June 2022.
Monthly CPI jumped 0.9% versus 0.3% in February, while energy prices surged 12.5% YoY, pushing gasoline above $4 per gallon.
Core CPI eased to 2.6% YoY and 0.2% MoM, leading analysts to expect the Fed may hold rates despite inflation pressure.
Iran‑linked conflict disrupted Strait of Hormuz tanker traffic, prompting a temporary US‑Israel‑Iran cease‑fire; oil prices fell but remain above pre‑war levels.