Consumer prices in the United States accelerated sharply in March as rising energy costs linked to the Iran conflict pushed inflation further away from the Federal Reserve’s target, even as underlying price pressures remained relatively contained.

Consumer prices increased by 0.9% last month due to spiraling energy costs from the US-Israeli attack on Iran.

Energy & Environment Energy & Environment   The Big Story Energy prices supercharge inflation figures Consumer prices in the U.S. rose by 3.3 percent over

The 10-year Treasury yield was little changed on Thursday as oil prices rallied and investors digested a number of key data releases.

US March CPI jumps 0.9% MoM driven by energy surge, while core inflation remains steady, signaling limited broader price pressure.

Inflation data is front and center this week as traders return from the long weekend: Wednesday’s personal-consumption expenditures index and Friday’s consumer-price index will give the Federal Reserve two new reads on price pressures.

Treasuries fell as quickening inflation stemming from the US war on Iran — and the prospect of escalation — eroded wagers that the Federal Reserve will lower interest rates once this year.

There’s a wide gap between how experts are viewing Friday’s inflation data and how the bitcoin market is pricing in the impending figures.