Inflation Surges

Overall prices rose 0.9 percent over the course of March, the highest monthly gain since the peak of the post-pandemic inflation crisis in June 2022. “Core” inflation, which strips out volatile food and energy prices, increased modestly. This measure of underlying inflation rose to 2.6 percent on a year-over-year basis following a 0.2 percent increase in March. Purchasers of groceries and gasoline can take heart that the cost of what they’re not buying every week is increasing by only 2.6 percent per year. The Washington Post: “Even if the negotiators in Pakistan stick the landing and the ceasefire turns into a durable period of non-conflict, the lagged impact of the oil and energy shock will impact consumers in a variety of ways through the remainder of 2026,” said Joe Brusuelas, chief economist at RSM. The New York Times adds: After more than five weeks of conflict before a cease-fire was called, the economic effects are becoming clearer. Gas prices have topped 4 a gallon on average. Utility bills have climbed and consumers are facing higher costs for groceries and air travel — prices that are unlikely to return to