Oil Prices Rise After Middle East War... U.S. Consumer Price Index Up 3.3%

The U.S. Department of Labor announced on April 10 (local time) that the Consumer Price Index (CPI) for March rose 3.3% year-on-year. On a month-on-month basis, it increased by 0.9%.

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Both the year-on-year and month-on-month growth rates are similar to the expert forecasts compiled by Dow Jones.

The core CPI, which excludes the volatile energy and food sectors, rose 2.6% year-on-year and 0.2% month-on-month.

This is lower than the expected figures of 2.7% and 0.3%.

This data reflects the increase in international oil prices following the outbreak of war in the Middle East. It is regarded as the first signal that can gauge the impact of the energy price shock on consumer prices.

Previously, experts had predicted that the U.S. Consumer Price Index (CPI) for March would surge due to the Middle East conflict. Bryan Bethune, an economics professor at Boston College, stated, "The headline CPI figure is likely to look pretty unfavorable. A second wave of price increases is approaching, which will begin with rising fuel prices and spread to other goods. Food, in particular, will be hit hard."

Economists believe that the Middle East conflict will further drive up prices in the coming months. Dan North, chief economist at Allianz Trade Americas, commented, "Although prices have fallen quite sharply in recent days, the previous upward trend is still underway, and inflation will continue to rise."

This content was produced with the assistance of AI translation services.