Inflation stayed stubbornly elevated last month as gas prices rose in a snapshot of what consumer prices looked like before the U.S.-Israeli attack on Iran sent energy costs soaring. Wednesday’s data has been overtaken by the conflict that began when the U.S. and Israel attacked Iran on Feb. 28, which has caused wild gyrations in oil prices as shipping lanes through the Persian Gulf have suffered a rare shutdown. Gas prices have already jumped and are expected to push inflation much higher when inflation data for this month is released in early April.
