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Economy

US Annual Inflation Drops to 5% in March: CPI Print

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By 247patrick Updated Published
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US Annual Inflation Drops to 5% in March: CPI Print

© Moyo Studio / iStock via Getty Images

The latest US CPI print showed the annual inflation rate at 5% in March. The annual rate lowered by 1.0% from the 6.0% set in February. Most experts forecasted the rate to fall to 5.1%.

Core annual inflation increased 5.6% annually in March and 0.4% month-over-month. Most experts predicted forecasted a 5.6% increase annually and a 0.4% month-over-month increase.

The Federal Reserve had been raising the interest rates to control inflation which reached a 41-year high last November.

March’s CPI print records the lowest annual inflation rate in nearly two years.

This article originally appeared on The Tokenist

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