US Inflation Surges Amid Hormuz Crisis and Iran War Impact

Inflation in the United States spiked by 0.9% in March, the steepest one-month rise in nearly a year, fueled largely by surging energy costs tied to the conflict with Iran. Gasoline prices skyrocketed 21.2%, while fuel oil jumped more than 30%, with energy overall recording its sharpest monthly increase since 2005. The war, which began on February 28 with a US-Israeli strike killing Iran’s reports Ali Khamenei, triggered Tehran to close the critical Strait of Hormuz, choking off 20% of the world