The largest monthly jump in gas prices in six decades caused a sharp spike in inflation last month, creating major challenges for the inflation-fighters at the Federal Reserve and heightening already substantial political hurdles for the White House.

The consumer price index for March showed inflation at a 3.3 percent annual rate, according to the Bureau of Labor Statistics.

The first reading on inflation since the Iran war began showed prices paid by American consumers surged in March, the Bureau of Labor Statistics reported on Friday. The consumer price index rose by 0.

Inflation in the U.S. remained stubbornly high heading into the Iran war. Trump started the Iran war with 5 goals. How far has he gotten? The 'oldest octopus' in the world isn't an octopus after all,

The war with Iran has roiled Wall Street, driving up the cost of a mortgage along with auto and credit card loans, making everyday life more expensive for Americans.

No Fed official worth his salt is going to vote for interest rate cuts as the inflation data is red hot even before the Iran War started,” Chris Rupkey, chief economist at FW

Higher prices in jet fuel, steel, aluminum, natural gas, fertilizer, and plastics are fueling inflation overall.

Shortly before the Iran war, a key measure of U.S. inflation rose at an excessive pace for the third month in a row, underscoring the latest challenge to the Federal Reserve in trying to squelch stubborn price pressures.