#household-budgets News & Analysis

Biggest jump in gas prices in 60 years, biggest jump in inflation since Biden: CPI carnage in March

U.S. inflation data from March reveals the largest gas price surge in 60 years and the highest inflation rate under the Biden administration, driven partly by geopolitical tensions including the Iran conflict. The spike in energy costs threatens to strain household budgets, particularly for lower- and middle-income Americans already facing affordability pressures.