Current location:opinions >>
Fed's preferred inflation gauge shows price pressures stayed elevated last month
opinions5914People have gathered around
IntroductionWASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortab ...
WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid.
Friday’s report from the government showed that prices rose 0.3% from February to March, the same as in the previous month. It was the third straight month that the index has run at a pace faster than is consistent with the Fed’s 2% inflation target. Measured from a year earlier, prices were up 2.7% in March, up from a 2.5% annual rise in February.
After peaking at 7.1% in 2022, the Fed’s favored inflation index steadily cooled for most of 2023. Yet so far this year, the index has remained stuck above the central bank’s target rate. More expensive gas and higher prices for restaurant meals, health care and auto repairs and insurance, among other items, have kept the overall pace of price increases elevated.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Culture Compass news portal”。http://mauritius.downmusic.org/html-4b599461.html
Related articles
Lawsuit alleges decades of child sex abuse at Illinois juvenile detention centers statewide
opinionsCHICAGO (AP) — Child sexual abuse at Illinois juvenile detention centers was pervasive and systemic ...
【opinions】
Read moreFire rages through Copenhagen's historic stock exchange, spire collapses
opinionsCOPENHAGEN, Denmark (AP) — A fire raged through one of Copenhagen’s oldest buildings on Tuesday, cau ...
【opinions】
Read moreChina's Dunhuang, French museum to co
opinionsTourists visit the Mogao Grottoes in Dunhuang, northwest China's Gansu Province, March 16, 2024. ...
【opinions】
Read more
Popular articles
- Here's where Biden and Trump stand on 10 key issues
- Zhang makes history to reach 2nd round at Monte Carlo
- UK lawmakers will vote on a landmark bill aiming to create the country's first smoke
- Abu Dhabi welcomes more MICE visitors from China
- Analysis: Lando Norris win shows McLaren is ready to return to global motorsports prominence
- Coach vows to beat Singapore in World Cup qualifier
Latest articles
How Miami became a sporting powerhouse: Lionel Messi, David Beckham and Tyreek Hill call it home, A
The world's BUSIEST airports revealed: Inside the 10 most packed aviation centers across the globe
Baltimore Key bridge collapse: Crews race against time to remove wreckage
Tax Day 2024: Here's what to do if you can't pay your taxes by the deadline
Neighbour leaves furious 94
Travel fanatic who spent $530 for a ONE
LINKS
- Xi Exchanges Congratulations with Madagascar's President over 50th Anniversary of Diplomatic Ties
- World Insights: China
- Xi Holds Talks with Tanzanian President
- China Unveils Regulation on Boosting Development of Self
- Xi Meets German Chancellor Olaf Scholz
- Xi Sends Condolences to Philippine President over Tropical Storm Losses
- Wenzhou Organizes Family Related Activity
- Xi Awards Friendship Medal to Vietnam's Communist Party Chief
- CCTF Awarded Exemplary Institution of the Year 2023
- 2023 Women Science and Technology Innovation Pioneer Forum Held in Beijing