Inflation increased at a slower pace in March
The Labor Department released the March consumer price index (CPI) report that showed inflation rose at a slightly slower pace last month, though it remains above the Fed's goal.
Inflation rose in March at a slower pace than expected but remained well above the Federal Reserve's goal as the central bank prepares to monitor the impact of tariffs on consumer prices in the weeks and months ahead.
The Bureau of Labor Statistics on Thursday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – decreased 0.1% in March compared with last month, while it was up 2.4% on an annual basis.
Both of the figures were cooler than the estimates of LSEG economists, and represented a cooling from February, when it rose 0.2% on a monthly basis and headline inflation was 2.8%.
So-called core prices, which include more volatile measurements of gasoline and food to better assess price growth trends, were up 0.1% from the prior month and 2.8% on an annual basis, cooler than expected. The headline figure was down from 3.1% a month ago, while the monthly core data ticked up from 0.2%.
This is a developing story. Please check back for updates.
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