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Inflation Report to Be Released as Iran War Sends Gas Prices Surging
The latest inflation data will show the cost burden on households before the outbreak of war with Iran.
Published on Mar. 11, 2026
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An inflation report set to be released on Wednesday will provide the latest measure of price increases as the U.S.-Israeli war with Iran drives up gasoline costs and renews concerns about affordability. Economists expect prices to have increased 2.4% in February from a year earlier, which would leave the inflation rate unchanged from January. A lackluster jobs report last week showed the U.S. economy lost 92,000 jobs in February, marking a reversal of fortunes for the labor market. The Iran war threatens to slow U.S. economic growth since oil-driven price increases could weigh on consumers and businesses.
Why it matters
The inflation report will shed light on the economic conditions facing households in the U.S. just before the outbreak of war with Iran, which has caused a spike in oil prices and gasoline costs. This data will be crucial for policymakers at the Federal Reserve as they navigate the challenge of high inflation and slowing economic growth.
The details
The inflation report will detail price increases in February, which are expected to have risen 2.4% from a year earlier, leaving the inflation rate unchanged from January. The report comes as the U.S. economy lost 92,000 jobs in February, marking a reversal of fortunes for the labor market. The Iran war has driven up oil prices by more than 30% in the past month, causing the average price of a gallon of gasoline in the U.S. to soar to $3.53 from $2.92 a month prior.
- The inflation report is set to be released on Wednesday, March 11, 2026.
- The U.S. economy lost 92,000 jobs in February 2026.
The players
Federal Reserve
The central bank of the United States, responsible for monetary policy and maintaining price stability and maximum employment.
U.S. Commerce Department
The federal agency that produces economic data, including reports on gross domestic product (GDP).
AAA
A federation of motor clubs that provides data on average gasoline prices in the United States.
What’s next
The Federal Reserve will make its next interest-rate decision on March 18, 2026, which will be influenced by the latest inflation data and the economic impact of the war with Iran.
The takeaway
The upcoming inflation report will be a crucial indicator of the economic challenges facing the U.S. as it grapples with the fallout from the war with Iran, including surging gas prices and the potential for stagflation. Policymakers at the Federal Reserve will be closely watching this data as they navigate the delicate balance between managing inflation and supporting economic growth.
