Inflation explodes in March but this increase could be temporary.

The reality of this March 3.3% CPI report is pretty straightforward: it’s all about the fallout from the Iran war. If you strip out that massive 10.9% jump in energy costs, the rest of the numbers actually look a lot tamer.
The big question everyone is asking now is: if the war ends tomorrow, how fast do our wallets feel it?
Historically, energy is the "fastest in, fastest out" component of inflation. Unlike rent or restaurant prices, which tend to be "sticky" and stay high once they rise, gas prices are tied to global oil futures that react in real-time. If an agreement to stop the war is announced, you’d likely see an even further drop in prices than the current ceasefire drop.
The headline 3.3% inflation looks scary, but since it's almost entirely driven by this specific geopolitical spike, it could vanish just as quickly as it appeared once the supply lines stabilize. It could, maybe, maybe not. #Inflation #CPI #GasPrices #OilPrices #Iran #Brent #Crude #Airfare #Groceries #Wages #Payroll #Jobs