April 10 (UPI) -- The consumer price index increased as expected in March in response to the war in Iran, the U.S. Bureau of Labor Statistics reported Friday.
Consumer prices for all consumers went up 0.9% for the month on a seasonally adjusted basis, an acceleration over the 0.3% rate in February. That brought the rate for the 12 months ending in March to 3.3%.
Prices increased by 2.4% for the year ending in February, closer to the Federal Reserve's target 2% rate of inflation.
March's annual index increase is the largest since April 2024.
Energy prices were a driving factor in the increase, jumping up 10.9%, in line with the Dow Jones consensus estimate. Within energy, the index for gasoline increased by 21.2%. Friday's report said this accounted for "nearly three quarters of the monthly all items increase."
