Inflating

The economy has definitely noticed the Iran War.

On Friday, the Labor Department issued its first war-impacted report, showing annual inflation jumped from 2.4% in February to 3.3% in March, driven by soaring energy prices (+12.5%). Across the pond, fuel shortages have pushed Irish truckers and farmers into the streets in protest, blocking highways and refineries since Tuesday, prompting the Emerald Isle’s government to promise a relief package.

Core inflation, which excludes food and energy prices, rose much less—just 2.6% from a year ago—though economists warn the impact of high fuel costs could take months to settle.

The United States Postal Service also delivered bad financial news, announcing it’s temporarily suspending employer retirement contributions and seeking a(nother) 4-cent price hike for stamps. USPS is projected to run out of money as soon as February 2027.

Verse to consider when the budget is tight and hope is elusive: “Therefore I tell you: Don’t worry about your life, what you will eat or what you will drink; or about your body, what you will wear. Isn’t life more than food and the body more than clothing? Consider the birds of the sky: They don’t sow or reap or gather into barns, yet your heavenly Father feeds them. Aren’t you worth more than they?” 
Matthew 6:25-26 (CSB) (read full passage)