Headline RoundupApril 10th, 2024

Inflation Rose Again in March

Summary from the AllSides News Team

U.S. inflation accelerated more than expected in March, according to government data on the Consumer Price Index (CPI).

The Details: On average, prices of goods and services across the economy measured in the CPI rose 0.4% from February and 3.5% from a year ago. Economists surveyed by Dow Jones had expected gains of 0.3% and 3.4%, respectively. Continued price hikes for shelter and gasoline pushed the CPI higher. It's the third month in a row that inflation's pace trumped expectations.

For Context: March's positive jobs report stoked optimism that the Federal Reserve may soon cut interest rates, but the new inflation data may dampen those hopes.

How the Media Covered It: Outlets across the spectrum highlighted rising gas and shelter costs. CNBC (Center bias) said the data suggests "that inflation is staying stubbornly higher and likely keeping the Federal Reserve on hold with interest rates." CNN Business (Lean Left) said "rising gas prices and stubbornly high shelter costs have stalled some of the progress made on slowing inflation." Fox Business (Lean Right) said the report shows "the challenge of taming price pressures within the economy."

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