# Inflation in America accelerated last month to its highest rate in nearly two years, as higher oil prices triggered by the US-Israel war in Iran started to spill over into the wider economy. According to the American Labour Department consumer prices climbed 3.3-percent over the 12 months to March, picking up from 2.4-percent in February. It is one of the biggest monthly changes since 2022, when Russia’s invasion of Ukraine brought an energy shock. Last month’s increase came after the war’s shutdown of the Strait of Hormuz sent oil prices soaring.
US inflation jumps to highest level in almost two years