US CPI March Jumps 3.3% YoY

US consumer price index rose 3.3% YoY in March, up from 2.4% in February, slightly below 3.4% forecast.
Monthly CPI increased 0.9% in March versus 0.3% in February, marginally under the 1.0% expected rise.
Core CPI, excluding food and fuel, was 2.6% YoY and 0.2% MoM, both slower than forecasts.
The surge was largely driven by higher energy costs linked to the Iran war, raising inflation pressures.