Consumer prices dropped 0.3 percent in March following a tiny 0.1 percent rise in February, the
Core inflation, which excludes volatile food and energy, dropped 0.1 percent last month. Over the past 12 months, inflation is up a moderate 2.4 percent while core prices have risen 2 percent.
The
However, with steady gains in employment and a jobless rate now down to 4.5 percent, the lowest in nearly a decade, and energy prices rebounding, inflation is beginning to rise.
“Another month like March and a June rate hike will become less likely,” he said in a research note.
For March, energy prices dropped 3.2 percent, led by the big 6.2 percent plunge in gasoline prices. Even with the decline, gasoline prices are 19.9 percent higher than a year ago.
Food costs edged up 0.3 percent last month but remain only 0.5 percent higher than a year ago.
Outside of energy and food, the prices of car insurance, medical care and airline fares were all up in March.
Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Citizens, Inc. Investors and Encourages Investors to Contact the Firm
BofI Federal Bank Partners with Hope Leadership Foundation to Promote Financial Literacy in San Diego
More Articles