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US Senator urges BLS to analyze inflation impact of Middle East conflict
WASHINGTON, March 9 (Reuters) - Democratic U.S. Senator Edward Markey on Monday asked the Bureau of Labor Statistics to produce and publish a comprehensive analysis of the likely impact on inflation from the Middle East conflict, which has caused a surge in oil prices.
In a letter to the BLS acting Commissioner William Wiatrowski, Markey requested that the analysis cover the next six months to twelve months, arguing households had seen a rise in gasoline prices as well as higher prices at the supermarket and utility bills since the U.S. and Israel launched strikes on Iran at the end of February and retaliation by Tehran.
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Oil prices soared past $100 per barrel, before paring some gains on Monday. Retail gasoline prices have jumped nearly 17% to $3.48 per gallon, data from motorist advocacy group AAA showed.
Reporting by Lucia Mutikani; editing by Edward Tobin