United States: Inflation falls to over one-year low in March
Consumer prices dropped a seasonally-adjusted 0.42% in March over the last month, below February’s 0.09% increase. March’s result marked the sharpest fall in prices since January 2019. The reading was driven by softer growth in prices for shelter. In addition, price pressures for transportation also dropped at a sharper rate. Prices for medical care gained steam.
Inflation dropped to 1.5% in March, down from February’s 2.3%. March’s result represented the smallest inflation rate since February 2019. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 1.9% in March (February: 2.0%). Core inflation fell to 2.1% from February’s 2.4%.