According to official data released on Friday, price increases accelerated sharply in March in the US, rising 3.3% year-on-year, due to soaring prices at the pump.

A surge in prices at the pump due to the Iran war has pushed the inflation rate to 3.3%.

Gasoline prices surged by 21.2% between February and March – the largest monthly increase since the the government began publishing a gasoline price index in 1967.

Significant uptick in prices year-over-year as a result of the Middle East conflict, which began when the U.S. and Israel launched joint strikes on Iran February 28

The Iran war has pushed up gasoline, airline fares and other prices for consumers.

Government report shows gasoline going up by 21.2 percent in March as petrol remains above $4 per gallon despite truce.

According to official data released on Friday, price increases accelerated sharply in March in the US, rising 3.3% year-on-year, due to soaring prices at the pump.