Inflation in the US comes in above expectations!

The US Department of Labor has released consumer inflation data for March.

Accordingly, the cost of living for American consumers increased by 0.4 percent in March compared to the previous month.

The CPI, which was expected to increase by 0.3 percent on a monthly basis during this period, had also recorded a 0.4 percent increase in February.

In the country, the CPI increased by 3.5 percent on an annual basis in March, reaching its highest level since September.

Market expectations were for annual inflation to be 3.4 percent in March. The CPI had risen by 3.2 percent on an annual basis in February.

INCREASE IN SHELTER AND GASOLINE PRICES STANDS OUT

During the period in question, the shelter index rose by 0.4 percent and gasoline prices by 1.7 percent. The rise in shelter and gasoline prices contributed to more than half of the monthly increase in the CPI.

The energy index increased by 1.1 percent monthly in March, while the food index rose by 0.1 percent. The 1.5 percent monthly increase in transportation prices also drew attention.

CORE INFLATION ABOVE EXPECTATIONS

Core CPI, which excludes volatile energy and food prices, also increased by 0.4 percent monthly and 3.8 percent annually in March, just as it did in February.

Market expectations were for core CPI to increase by 0.3 percent on a monthly basis and 3.7 percent on an annual basis in March.

News Source: AA