First inflation report since Iran war stuns Wall Street as conflict sends shockwaves through the economy… and you’re paying the price

The government’s latest prices report card is giving the US economy an ‘F’ – that means most of the things you buy every day are getting much more expensive.

The March inflation report showed prices jumped by almost 1 percent in the month – pushing the yearly inflation rate up to 3.3 percent – its highest level in two years.

The Iran war is the main culprit behind the failing grade, as fighting in the Middle East sent energy prices soaring, up nearly 11 percent in the month of March alone, according to the report.

Data from AAA shows the national average US gasoline price surpassed $4 a gallon in March for the first time in four years. 

But this ‘war tax’ is hitting more than just your gas tank: Grocery bills are creeping up again, with food prices gaining 2 percent over the last year.

This is partly because it costs more to truck the food to the store and partly because fertilizer prices are spiking.

When it costs more for a farmer to grow a tomato and more for a trucker to deliver it, you’re the one who ends up paying the extra quarters at the checkout line.

Housing costs aren’t rising as much as food and gasoline, but they’re still a weight.

This is breaking news – more to follow