The U.S. Consumer Price Index (CPI) surged by 0.9% in March, driven primarily by escalating gasoline prices amid ongoing tensions with Iran. This marks the largest monthly increase since 2022. The year-over-year CPI growth accelerated to 3.3%, the fastest rate since 2024, according to data released by the U.S. Bureau of Labor Statistics on Friday. Gasoline prices, reaching record highs, contributed to nearly three-quarters of the monthly CPI increase. In contrast, the core CPI, which excludes volatile food and energy prices, saw a more modest rise of 0.2% for the month.