Inflation Surges to 4-Year High
CPI Rises by 0.6%, Core CPI Climbs 0.3%
Headline Inflation Hits 2.6%, Core Inflation Reaches 1.9%
Inflation in the United States accelerated to a four-year high in March, with the headline Consumer Price Index (CPI) rising by 0.6% and the core CPI, which excludes volatile food and energy prices, climbing by 0.3%, according to data released by the Bureau of Labor Statistics.
The headline CPI rose to 2.6% year-over-year, the highest since March 2012. The core CPI also increased to 1.9%, the highest since May 2017. Both the headline and core CPI climbed by 0.1 percentage point more than economists had expected.
The increase in inflation was driven by a sharp rise in gasoline prices, which jumped by 9.1% over the past month. Food prices also rose, albeit more modestly, by 0.2%. The only major category to decline over the past month was medical care, which fell by 0.1%.
The Federal Reserve has been closely monitoring inflation and has indicated that it expects inflation to rise this year. However, the Fed has also said that it is comfortable with inflation rising above its target of 2% if it is gradual and sustainable.
Komentar