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International Business Times
International Business Times
Business
Demian Bio

Key Inflation Rate Jumps To Highest Level In Almost Three Years As Oil Prices Spike

Inflation Oil the Federal Reserve US Federal Reserve
A key inflation gauge rose 0.7% in March compared to February. (Credit: AFP)

A key inflation gauge closely followed by the Federal Reserve jumped to its highest level in almost three years as oil prices spike and impact the cost of living in the U.S.

Year-to-year prices rose by 3.5% in March, the Commerce Department said on Thursday. Compared to last month, prices rose 0.7%.

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