Inflation in March saw the largest monthly gain since 2022 as the US-Israel war against Iran sent gas prices skyrocketing past $4 a gallon. Headline inflation clocked in 3.3% higher than a year ago, while rising 0.9% on a monthly basis in a rapid acceleration from February’s levels, according to Labor Department data released Friday. Economists surveyed by Bloomberg had anticipated a 3.4% increase from a year ago and 0.9% from a month prior. The spike was almost entirely driven by a rise in energy costs as the war left the vital Strait of Hormuz largely closed off. The gasoline index alone soared 21.2%, which the ... (full story)