USA News Today | Daily Us NewsPaper
Tuesday, July 1, 2025
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech
USA News Today | Daily Us NewsPaper
No Result
View All Result
Home Business

U.S. Consumer Prices Climb 0.4% In March, Slightly More Than Expected

April 10, 2024
in Business


Largely reflecting continued growth in prices for shelter and gasoline, the Labor Department released a report on Wednesday showing U.S. consumer prices advanced by slightly more than expected in the month of March.

The Labor Department said its consumer price index climbed by 0.4 percent in March, matching the increase seen in February. Economists had expected consumer prices to rise by 0.3 percent.

Shelter prices rose by 0.4 percent and gasoline prices jumped by 1.7 percent, contributing over half of the monthly increase by the index.

Excluding prices for food and energy, core consumer prices still rose by 0.4 percent for the third consecutive month. Core consumer prices were also expected to increase by 0.3 percent.

The advance by core prices reflected the increase in shelter prices as well as higher prices for motor vehicle insurance, medical care, apparel and personal care. Decreases in pries for used cars and trucks, recreation and new vehicles helped limit the upside.

The report also said the annual rate of consumer price growth accelerated to 3.5 percent in March from 3.2 percent in February. Economists had expected a more modest acceleration to 3.4 percent.

Meanwhile, the annual rate of core consumer price growth came in at 3.8 percent in March, unchanged from February. Core price growth was expected to slow to 3.7 percent.

“The buoyant advance in inflation in March pours cold water on the view that the faster readings in January and February simply represented start of the new year price increases that were not likely to persist,” said Nationwide Chief Economist Kathy Bostjancic.

She added, “The lack of moderation in inflation will undermine Fed officials’ confidence that inflation is on a sustainable course back to 2% and likely delays rate cuts to September at the earliest and could push off rate reductions to next year.”

The Labor Department is scheduled to release a separate report on Thursday on producer price inflation in the month of March.

Producer prices are expected to rise by 0.3 percent in March after climbing by 0.6 percent in February, while the annual rate of producer growth is expected to jump to 2.3 percent from 1.6 percent.

Copyright © 2024, RTTNews.com, Inc. All Rights Reserved.

Tags: Breaking NewsEconomic NewsForex Top StoryFront Page NewsGeneral NewsTop story

Related Posts

U.S. Consumer Sentiment Tumbles To Six-Month Low In May

by USA News Editor
May 13, 2024
0

A report released by the University of Michigan on Friday showed a substantial deterioration in U.S. consumer sentiment in the...

U.S. Service Sector Activity Contracts For First Time Since December 2022

by USA News Editor
May 3, 2024
0

After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a...

U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Higher

by USA News Editor
May 3, 2024
0

After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday...

U.S. Factory Orders Surge In Line With Estimates In March

by USA News Editor
May 2, 2024
0

New orders for U.S. manufactured goods surged in line with economist estimates in the month of March, according to a...

U.S. Labor Productivity Increases Modestly In Q1, Labor Costs Spike

by USA News Editor
May 2, 2024
0

A report released by the Labor Department on Thursday showed labor productivity in the U.S. increased by less than expected...

U.S. Trade Deficit Narrows Slightly To $69.4 Billion In March

by USA News Editor
May 2, 2024
0

The U.S. trade deficit edged slightly lower in the month of March, according to a report released by the Commerce...

Advertisement

Today Trend USA News

BET Experience 2024 Concert Series To Feature Cardi B, Gunna, Sexyy Red & More

1 year ago

Deep Purple Share First-Ever Official Video For 'Smoke On The Water'

1 year ago
U.S. Wholesale Inventories Rebound In Line With Estimates In December

U.S. Wholesale Inventories Rebound In Line With Estimates In December

1 year ago

Cyndi Lauper Sells Majority Share Of Master Recording Revenue, Publishing To Pophouse

1 year ago
Pharrell Tease Miley Cyrus Collab 'Doctor (Work It Out)'

Pharrell Tease Miley Cyrus Collab 'Doctor (Work It Out)'

1 year ago

Sullivan In Kyiv Says House Will Pass Ukraine Aid Bill

1 year ago

Popular News Today

  • Camila Cabello Drops 'I Luv It' Featuring Playboi Carti

    0 shares
    Share 0 Tweet 0
  • Kanye West & Ty Dolla $ign's 'Vultures 1' Debuts Atop Billboard 200

    0 shares
    Share 0 Tweet 0
  • About
  • Contact Form
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2024 USANEWS.ONE

No Result
View All Result
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech

© 2024 USANEWS.ONE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously