US March CPI Rises 3.3% Year-on-Year; Iran War Accelerates Inflation

According to AFP, the March CPI showed a significant increase from February's 2.4%. The US Bureau of Labor Statistics (BLS) reported that gasoline prices surged by 21.2% between February and March. According to US financial media CNBC, the substantial increase in consumer prices makes it more difficult for the Federal Reserve (Fed) to achieve its inflation targets. Last month's seasonally adjusted CPI monthly increase was 0.9%, meeting market expectations, mainly reflecting the impact of a 10.9% surge in energy prices. Excluding volatile food and energy prices, the core CPI monthly increase was 0.2% and the annual increase was 2.6%, both 0.1 percentage points lower than market forecasts, indicating that core inflation is relatively under control. Some statistical items even saw price decreases, such as healthcare, personal care, and used cars and trucks. The US and Iran agreed on an April 8th ceasefire for two weeks, with negotiations scheduled for April 11th to seek an end to the nearly six-week conflict. However, there are differences in the understanding of ceasefire terms, and Israel's military actions in Lebanon continue, raising concerns that diplomatic channels could break down at any time. The White House stated that formal talks would begin on the morning of April 11th local time; Iran's Supreme National Security Council stated on April 8th that negotiations could last up to 15 days. (Compiled by Hong Qi-yuan)