The latest US CPI data was released on April 10, 2024 for March 2024. Here's a quick summary:
Year-over-year (YoY) Increase: 3.5%, higher than expectations (3.4%) and February's reading (3.2%). This is the highest inflation rate since September 2023.
Monthly Increase: 0.4%
What does it mean?
The Federal Reserve aims to keep inflation under control. Since interest rate cuts can contribute to inflation, the higher inflation goes, the less likely the Fed is to cut rates in order to prevent inflation from rising further.
