US inflation is accelerating to a three-year high, driven by the Iran war pushing up energy costs — bad news for workers, shoppers, and investors.

• Inflation jumped to a three-year high, with gas prices up sharply and energy driving most of the increase.
• The Iran war is the main cause — it's choking off oil and gas supplies, making everything more expensive to produce and ship.
• Wages are falling behind prices for the second month straight, so people are earning less for the same work.
• Bank of America told its clients to take their money out of stocks, saying most of its warning signs have been triggered.
• The war also blocks a third of the world's fertilizer through the Strait of Hormuz, which will push food prices higher.

Outlook: With the war reigniting and no end in sight, inflation and grocery prices are expected to keep climbing.