FOREX TradingCharts.com

Financial News: U.S. Consumer Prices Climb 0.4% In March, Slightly

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

04/10/2024 - 09:27:00 (RTTNews)

(RTTNews) - 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.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Leading Economic Index Decreases More Than Expected In April (02 hr(s), 28 min(s), 37 sec(s) ago)
(RTTNews) - Suggesting softer economic conditions lay ahead, the Conference Board released a repor ...Full Story»

China Industrial Output Gains Strength; Retail Sales & Investment Data Disappoints (04 hr(s), 40 min(s), 37 sec(s) ago)
(RTTNews) - China's industrial growth accelerated in April driven by robust exports but soften ...Full Story»

French Jobless Rate Stable At 7.5% In Q1 (06 hr(s), 25 min(s), 37 sec(s) ago)
(RTTNews) - France's unemployment rate held steady in the first quarter after rising in the pr ...Full Story»

Eurozone Inflation Steady At 2.4% As Estimated (06 hr(s), 47 min(s), 37 sec(s) ago)
(RTTNews) - Eurozone inflation remained stable in April as initially estimated, official data said ...Full Story»

Austrian Inflation Confirmed At 31-Month Low (08 hr(s), 0 min(s),37 sec(s) ago)
(RTTNews) - Austria's consumer price inflation eased to the lowest level in more than two-and- ...Full Story»

Swiss Industrial Production Shrinks 3.1% In Q1 (08 hr(s), 58 min(s), 37 sec(s) ago)
(RTTNews) - Switzerland's industrial production declined for the second straight quarter in th ...Full Story»

Malaysia GDP Growth Rebounds More Than Estimated (09 hr(s), 05 min(s), 37 sec(s) ago)
(RTTNews) - Malaysia's economy logged a stronger-than-estimated rebound in the first quarter o ...Full Story»

Singapore Non-Oil Domestic Exports Fall 9.3% (10 hr(s), 20 min(s), 37 sec(s) ago)
(RTTNews) - Singapore's non-oil domestic exports decreased for the third straight month in Apr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Leading Economic Index Decreases More Than Expected In April

05/17/2024 - 10:20 AM (RTTNews)
(RTTNews) - Suggesting softer economic conditions lay ahead, the Conference Board released a repor ...Full Story>>

China Industrial Output Gains Strength; Retail Sales & Investment Data Disappoints

05/17/2024 - 08:08 AM (RTTNews)
(RTTNews) - China's industrial growth accelerated in April driven by robust exports but soften ...Full Story>>

French Jobless Rate Stable At 7.5% In Q1

05/17/2024 - 06:23 AM (RTTNews)
(RTTNews) - France's unemployment rate held steady in the first quarter after rising in the pr ...Full Story>>

Eurozone Inflation Steady At 2.4% As Estimated

05/17/2024 - 06:01 AM (RTTNews)
(RTTNews) - Eurozone inflation remained stable in April as initially estimated, official data said ...Full Story>>

Austrian Inflation Confirmed At 31-Month Low

05/17/2024 - 04:48 AM (RTTNews)
(RTTNews) - Austria's consumer price inflation eased to the lowest level in more than two-and- ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.