Current location:business >>
Fed's preferred inflation gauge shows price pressures stayed elevated last month
business6People have gathered around
IntroductionWASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortab ...
WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid.
Friday’s report from the government showed that prices rose 0.3% from February to March, the same as in the previous month. It was the third straight month that the index has run at a pace faster than is consistent with the Fed’s 2% inflation target. Measured from a year earlier, prices were up 2.7% in March, up from a 2.5% annual rise in February.
After peaking at 7.1% in 2022, the Fed’s favored inflation index steadily cooled for most of 2023. Yet so far this year, the index has remained stuck above the central bank’s target rate. More expensive gas and higher prices for restaurant meals, health care and auto repairs and insurance, among other items, have kept the overall pace of price increases elevated.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Iterations news portal”。http://www.videocameralive.com/news-2b399685.html
Related articles
After AP's missing students investigation, children return to school
businessATLANTA (AP) — Four months after The Associated Press wrote about an Atlanta family struggling to en ...
【business】
Read moreChina's gigantic telescope detects over 900 new pulsars
businessThis photo taken on Feb. 26, 2024 shows China's Five-hundred-meter Aperture Spherical Radio Tele ...
【business】
Read moreBritain's Got Talent air guitarist Sven Smith stuns judges as he narrowly avoids X
businessThe Britain's Got Talent judges were stunned by one contestant during Saturday's episode after he ne ...
【business】
Read more
Popular articles
- Shocking moment Pennsylvania man pulls a gun on pastor in front of horrified congregation
- Inter Milan celebrates winning Serie A title with victory over Torino
- Real Betis and Sevilla draw 1
- Joe Biden wins Democratic primary in Puerto Rico
- Spurs' Victor Wembanyama named NBA Rookie of the Year
- David Rittich gets the start in goal for Los Angeles in Game 4 against Edmonton
Latest articles
DJ Chark Jr. signs with the Los Angeles Chargers
Stott and Realmuto homer, Walker makes a slick play as the Phillies win 8
Joe Biden wins Democratic primary in Puerto Rico
Caitlyn Jenner, 74, and longtime gal pal Sophia Hutchins, 26, match up in black as they attend star
China's software industry logs steady growth in Q1
Oklahoma man beat his girlfriend up while she was pregnant
LINKS
- Twins send struggling Varland to Triple
- Satellite photos suggest Iran air defense radar struck in Isfahan during apparent Israeli attack
- Suspect arrested in break
- Sleeping bags at the ready... MPs and peers dig in for late
- Biden will send Ukraine air defense weapons, artillery once Senate approves, Zelenskyy says
- William Nylander misses second straight game for Maple Leafs
- Orlando Magic guard Jalen Suggs helped off with left leg injury in Game 2 against Cavaliers
- Philippine troops kill 12 suspected Muslim rebels in clash that wounded seven soldiers
- Olympiakos wins first European title for Greek clubs in UEFA Youth League final
- Trevor Bauer ties a Mexican League record with 9 consecutive strikeouts