Published 04/12/2023 12:39:00 p.m.

US inflation at 5%, the lowest it has been since 2021

Summary by Ground News

Inflation cooled in March as the Federal Reserve’s interest rate increases showed more impact, the Labor Department reported Wednesday. The Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February. In the 12 months through March, the CPI increased 5.0%, the smallest year-on-year gain since May 2021. Excluding food and energy, core CPI increased 0.4% and 5.6% on an annual basis, both as expected. Inflation by all measures remains more than double the Fed's 2% target.

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Times of India

US inflation rate eased to 5% in March; lowest rise in almost 2 years

US inflation eased last month to its lowest level in nearly two years but an uptick in core prices will keep pressure on the Federal Reserve to press ahead with another interest rate increase in May.

04/12/2023 2:07:00 p.m.·India

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CBC News

U.S. inflation rate eased to 5% in March — lowest rise in almost 2 years

U.S. consumer inflation eased in March, with less expensive gas and lower food prices providing some relief to households that have struggled under the weight of surging prices for nearly two years.

04/12/2023 1:17:36 p.m.·Canada

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Reuters

US consumer prices rise moderately; underlying inflation too hot

U.S. consumer prices barely rose in March as the cost of gasoline declined, but stubbornly high rents kept underlying inflation pressures simmering, likely ensuring that the Fed will raise interest rates again next month.

04/12/2023 12:41:56 p.m.·United Kingdom

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