Consumer prices rise 3.5%

In March, the Consumer Price Index (CPI) rose more than expected, with a 0.4% increase for the month, pushing the 12-month inflation rate to 3.5%.

This surge likely dampened hopes for immediate interest rate cuts by the Federal Reserve. Core CPI, excluding volatile food and energy components, also accelerated, rising 0.4% monthly and 3.8% annually. Stocks fell and Treasury yields rose in response.

The increase was primarily driven by rising shelter and energy costs. Food prices saw a modest increase, with notable fluctuations within categories.

The report signaled challenges for workers, with real average hourly earnings remaining flat.

The Fed, cautious about monetary policy direction, may delay rate cuts. Expectations shifted from potential cuts in June to September, reflecting concerns about stubborn inflation, CNBC has reported.

READ MORE: https://www.cnbc.com/2024/04/10/cpi-inflation-march-2024-consumer-prices-rose-3point5percent-from-a-year-ago-in-march.html

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Follow Me On Truth Social
https://truthsocial.com/@BC_Begley

#Economy #Inflation #CPI