Consumer prices in March rose at their fastest annual rate in two years, thanks to Iran war sending gasoline prices above $4 a gallon. And that has severely eaten into U.S. paychecks

Americans' paychecks are falling into their gas tanks. Consumer prices in March rose at their fastest annual pace in two years thanks to the Iran war, which has sent gasoline prices skyrocketing above $4 a gallon. The surge has quickly eaten away at earnings.