Summary:
The US March CPI at 3.2%, surpassing expectations, may delay Fed rate cuts. Energy costs are up 2.3%, a sustained trend for 9 months.
US CPI YoY Mar
10/4/2023 (Wed)
Previous: 3.2% Forecast: 3.4%
inflation rose again in February, keeping the Fed on course to wait at least until the summer before starting to lower interest rates. The annual gain of 3.2% was higher than the 3.1% forecast.
A 2.3% increase in energy costs helped boost the headline inflation number. For the past nine months, the annual rate of inflation has held between 3% and 4%.
Experts began warning last year that the so-called last mile of the marathon toward the 2% goal would be the hardest. It now appears those fears have been borne out.
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