Government data out Friday will show how much consumer prices rose in March — and forecasts point to soaring inflation. Over the past month, the US-Israel war on Iran has sent gas prices skyrocketing past $4 a gallon and all but ensured that recent reports of cooler price growth will be reversed. Economists surveyed by Bloomberg now see headline inflation in March up 3.4% from a year ago and 0.9% from a month prior — a rapid acceleration from February’s annual increase of 2.4% and monthly bump of 0.3%. If economists’ projections hold, March would post the largest monthly gain since June 2022. It’s not just energy ... (full story)