The March Consumer Price Index will impact the Federal Reserve’s decision on its next policy move.
Inflation rose by 5% in March, its lowest level in nearly two years, as the Federal Reserve weighs whether it will need to continue hiking interest rates.
Core inflation, which excludes volatile food and energy prices, jumped 5.6% year-over-year in March and by 0.4% compared to February. Inflation has cooled in recent months, but it is still running well above the Fed’s 2% target and putting continued financial pressure on American households.Uncertainty about the Fed’s policy path has increased since the failures of Silicon Valley Bank and Signature Bank of New York last month reignited fears of a global economic crisis.
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