Oil prices surged more than 6% on Thursday.
Inflation rose for a third consecutive month amid the Iran war, matching expectations.
The jump in prices last month owed in large part to a sharp rise in costs for products impacted by a global oil shock.
The new data arrived as the war continues to drive up gasoline prices and borrowing costs, threatening a drag on the economy.
The Court of International Trade has concluded that President Trump's global 10% tariffs are unlawful.
The report on gross domestic product covers the first three months of this year.