USA: Inflation Rate Accelerates to 3.3%, Highest in About 2 Years.

The annual inflation rate in the US jumped to 3.3% in March 2026, marking the highest level since May 2024 and a sharp increase from 2.4% in both February and January. Figures came in line with forecasts, with the rise primarily driven by higher energy costs (12.5%), mostly gasoline (up 18.9%) and fuel oil (44.2%), due to the war with Iran. On the other hand, prices for used cars and trucks continued to decline (-3.2% vs -3.2%) while inflation steadied for shelter (3% vs 3%) and eased for food (2.7% vs 3.1%). On a monthly basis, consumer prices rose 0.9%, the largest increase since June 2022, following a 0.3% gain in February and also in line with forecasts, boosted by a 21.2% jump in gas prices. Meanwhile, core inflation which excludes food and energy, also picked up though much more moderately, to an annual rate of 2.6%, compared to forecasts of 2.7%. On a monthly basis, core consumer prices increased by 0.2%, below expectations of 0.2%.