Inflation Jumps to 3.5%, Jeopardizing Hopes for Predicted Rate Cuts
By Key takeaways The Consumer Price Index rose 3.5% year over year, and the core index has risen 0.4% for three straight months. Inflation rates have steadily inched upward since the beginning of 2024, which could indicate that inflation is harder to tame than previously estimated. The upward trend in inflation reduces the chances the…