Header Ads

Header ADS

U.S. CPI hits near 40-year high in March

The U.S. consumer price index (CPI) in March rose 8.5% year-on-year, continuing to hit a 40-year high, up 0.6 percentage points from the previous value, and the market expected 8.4%. Among them, energy and gasoline prices rebounded by 32% and 48% year-on-year respectively. The year-on-year increase in used car prices slowed to 35.3%. Food prices rose 8.8% year-on-year, continuing to hit a 41-year high. As for the core CPI excluding food and energy, it rose by 6.5% year-on-year, hitting a nearly 40-year high and the rate of increase narrowed for two consecutive months. The rise in core CPI was slightly lower than market expectations, and the Biden administration is about to release crude oil reserves to suppress oil prices, which is increasing the market's expectations that U.S. inflation may have peaked.
Powered by Blogger.