Prices Rose Another 5% In March—Lowest Inflation Reading In Nearly Two Years


Annual inflation fell for a ninth-straight month in March—temporarily easing concerns about the future of the Federal Reserve’s tightening campaign as some experts worry that uncertainty over recent bank failures and a potential recession may complicate the path of inflation.


Federal Reserve Chairman Jerome Powell testifies during a Senate Banking Committee hearing.




Consumer prices rose 5% on an annual basis, according to data released by the Labor Department on Wednesday, marking the smallest year-over-year increase since May 2021 and coming in better than economists expected after a 6% spike in February.

Rent prices were "by far" the biggest contributor to overall inflation, more than offsetting a decline in energy prices, which decreased 3.5% over the month, the government said.

Core inflation, which excludes volatile food and energy prices, rose 0.4% on a monthly basis in March—falling in line with projections but still historically high as prices for car insurance, airplane tickets, furniture and new cars all continued to rise.



Source : [Prices Rose Another 5% In March—Lowest Inflation Reading In Nearly Two Years]( by Jonathan Ponciano, Forbes Staff - US infl logo


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