Market Updates
CPI Increase Slowed In March, Core Rate Advanced
Brian Turner
12 Apr, 2023
New York City
Consumer price index declined to an annual rate of 5% in March, according to the latest report released by the U.S. Bureau of Labor Statistics.
The March inflation on an annual basis was the smallest increase since May 2021 and the monthly rate of inflation fell to 0.1% from 0.4% in February.
Sharp decline in gasoline prices slowed the headline inflation but core inflation accelerated in the month to 5.6% from a year ago and rose 0.4% from the previous month on higher shelter costs.
Core rate of inflation increased for the first time in six months on the sustained increase in shelter prices.
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