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Inflation rose less than expected in March, but core prices remain sticky

The Labor Department released March inflation data on Wednesday, revealing that price pressures in the U.S. economy cooled but remained sticky last month.

Inflation remained uncomfortably high in March, although it has cooled slightly from a peak notched in 2022.

The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in March from the previous month. Prices climbed 5% on an annual basis. 

Those figures were both Iower than forecasts by Refinitiv economists. 

This is a developing story. Please check back for updates.

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