HomeFinancial MarketsConsumer Price Index Comes in Hotter in March

Consumer Price Index Comes in Hotter in March

The US Bureau of Labor Statistics released the Consumer Price Index report for March, with inflation appearing to be back on the rise. The CPI rose 0.4% compared to the previous month while gaining 3.5% compared to the same month in 2023.

Both CPI measures beat the expectations of economists polled by Bloomberg, with forecasts being a 0.3% monthly gain and a 3.4% annual rise. While February’s monthly gains fell in line with March’s figures, March’s annual gain exceeded the 3.4% annual rise posted in February.

Looking at “core” inflation, which excludes more volatile food and energy costs, the CPI rose by 0.4% compared to February and 3.8% on a yearly basis. Economists expected a 0.3% monthly gain and a 3.7% year-over-year rise, with actual figures outpacing both. Should inflation continue this upward trend, the Federal Reserve may reconsider its stance on introducing interest rate cuts later in the year.

Chemical Giant DuPont Will Split in 3 Companies, Replace CEO Ed Breen

Chemical giant DuPont is heading towards some major changes. The company announced on Wednesday that it will be splitting into three separate companies while...

Zoom Tops Estimates, Raises Full-Year Forecast

Zoom Video Communications reported its earnings for the first quarter of 2024 on Monday and topped the estimates of Wall Street analysts. The communications...

Reddit Stock Jumps on the Back of Open AI Partnership

Social media platform Reddit announced earlier this week that it is partnering up with artificial intelligence start-up Open AI to improve the experience of...