Inflation rises in US amid Iran war, Hormuz blockade

Consumer prices in the United States rose by nearly 1% in March, largely due to disruptions in energy markets from the war on Iran. The price of oil reached $120 per barrel, while gasoline exceeded $4.1 per gallon. Despite a two-week ceasefire agreement between the US and Iran, marine traffic in the Strait of Hormuz remains significantly below pre-war levels.