A war-driven jump in gas prices helped push US inflation to 3.3% in March, marking the fastest annual pace in nearly two years, new Bureau of Labor Statistics data showed Friday.
On a monthly basis, prices rose 0.9%, triple the 0.3% pace seen in February, when inflation was 2.4%, the latest Consumer Price Index data showed.
Gasoline prices, which rose a record 21.2% during the month, accounted for nearly three-quarters of the overall monthly increase.
Economists had expected prices to jump 0.9% from the month before and for the annual rate to climb to 3.4%, according to FactSet.
I bet in a couple of years Americans will look back to this as the good old days.