The Labor Department reported that US inflation reached 3.3 percent in March following a surge in fuel prices caused by the conflict in Iran and the closure of the Strait of Hormuz.While gas prices jumped 21.2 percent in the largest monthly increase since 1967, Donald Trump emphasized that costs for items like eggs and beef are declining.Jerome Powell warned that shipping disruptions will delay reaching inflation targets as the
EU faces a possible stagflationary shock.