Headline inflation rate tame in March, but core CPI reading remains elevated
The numbers: Consumer prices rose a scant 0.1% in March largely because of lower energy costs, but U.S. inflation more broadly was still high and showed little prospect of rapidly subsiding soon.
More negatively, the so-called core rate of inflation that omits food and energy rose a sharper 0.4%. Wall Street had forecast a 0.4% gain. After that, the Fed is prepared to call a temporary halt to a series of interest-rate increases it’s orchestrated since March 2022 to see how the economy responds.
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