The U.S. Bureau of Labor Statistics released the highly anticipated Consumer Price Index (CPI) inflation data for March, which indicated that a hotter-than-expected result after the inflation print came in at 3.5%. That compares to analyst expectations of 3.4% and the previous month’s inflation number of 3.2%. The March inflation print held extreme importance for financial markets for assessing the trajectory of the Fed’s rate cuts.
After two consecutive disappointing inflation data in January and February, the bets on the first-rate cuts by the Fed had shifted from June to September. Today’s data further cements the idea that the Fed’s much-expected 2% inflation rate is still far from becoming a reality. The data also highlighted that the interest rates might remain higher for a little longer before the Fed finally starts embarking on the rate cut journey.
US Inflation Lands Hotter Than Expected
US CPI numbers showed that the Consumer Price Index for All Urban Consumers (CPI
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