Doing the numbers on your grocery bill

The price of oil jumped back above $103 a barrel after talks between the U.S. and Iran collapsed and President Trump threatened a new kind of blockade in the Strait of Hormuz. Meanwhile, the latest Consumer Price Index data shows grocery prices are up about 2% year over year, but that average hides sharp divergences: fruits and vegetables are up 4%, non-alcoholic beverages are up nearly 5%, while meat and dairy are both falling. And with tax day two days away, a new report warns that changes from last summer's tax and spending law could bring millions of new donors into the charitable system while simultaneously reducing the total dollars flowing to nonprofits.

Oil spikes after Iran talks collapse

The price of Brent crude rose to $103 a barrel after negotiations between the U.S. and Iran broke down. President Trump then posted that the U.S. would blockade the Strait of Hormuz itself, but U.S. Central Command clarified that ships will be allowed through as long as they are not stopping in Iran. The practical effect is a blockade of Iranian ports, with the U.S. intercepting any vessels that have paid tolls to Iran. The Strait of Hormuz is a critical chokepoint for global oil shipments, and the renewed threat of disruption pushed crude prices higher.

The real story behind grocery prices