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“March’s inflation data is going to be a harder pill to swallow,” said Art Hogan, the chief market strategist at the wealth management firm B. Riley Wealth.
President Donald Trump is under immense pressure to stamp out the elevated inflation that derailed his predecessor's presidency. | Saul Loeb/AFP via Getty Images
Inflation held steady in February as President Donald Trump readied a new military offensive against Iran, but there are clear signs of trouble ahead on prices.
The Labor Department reported on Wednesday that food and energy prices climbed sharply in the weeks leading up to the conflict. Gasoline and fuel oil prices were falling at the start of the year, but the cost of both jumped as markets began to price in a war that would threaten shipments through the Strait of Hormuz, a key waterway for 20 percent of the globe’s oil and gas flows.
