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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 Federal Reserve will follow through on its predicted three rate cuts this year.
Inflation took an upward swing in March, with prices rising 3.5% in the last 12 months, up from 3.2% in February, according to the latest release of the Consumer Price Index. Inflation’s continued resilience threatens the chances the Federal Reserve will make its predicted three rate cuts this year.
Core prices, which exclude volatile items like food and energy, increased 0.4% in March, as it has for the past three months.
With inflation sticking stubbornly above its 2% target and unemployment remaining low, the Fed is unlikely to lower rates until t …
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