Inflation Report Shows Price Pressures Eased in March – By Gwynn Guilford, Nick Timiraos (The Wall Street Journal) / Apr 12 2023
U.S. inflation eased in March to its lowest level in nearly two years, but underlying price pressures likely keep the door open for the Federal Reserve to consider another interest-rate increase at its May meeting.
The consumer-price index, a closely watched inflation gauge that measures what consumers pay for goods and services, rose 5% last month from a year earlier, down from February’s 6% increase and the smallest gain since May 2021, the Labor Department said Wednesday.
Consumers saw lower prices last month for groceries, gasoline, medical care and utilities and high prices for shelter, airline fares and insurance, the department said.
Stocks were mixed and bond yields fell following the inflation report.
