The U.S. Department of Labor announced on Tuesday (12th) that the unseasonably adjusted consumer price index (CPI) rose 8.5% in March compared with the same period last year, slightly higher than the 8.4% expected by the market, rewriting the largest increase since December 1981 and replacing the Federal Reserve. Expectations that the Fed may raise interest rates by 2 yards next month paved the way.
With the acceleration of CPI growth in March, it highlighted the persistent inflationary pressure and the lingering impact of supply chain disruptions and supply shortages. The report showed that after seasonal adjustment, the US CPI rose 1.2% in March, in line with market expectations, but higher than the 0.8% in February.
After excluding volatile items such as food and energy, the core CPI in March increased by 6.5% year-on-year, which was slightly lower than the 6.6% expected by the market, but higher than the 6.4% increase in February. It was reported 0.3%, slightly below expectations of 0.5%.
Continually updated…