Inflation accelerates further to 8.5% over one year



WASHINGTON, April 12 (Reuters) – U.S. consumer price inflation, boosted by soaring fuel prices, hit its highest level in more than 16 years in March, official statistics showed on Tuesday. .

The consumer price index (CPI) rose 1.2% last month, the highest figure since September 2005, after +0.8% in February, announced the Labor Department.

Over one year, its increase reached 8.5%, the highest since December 1981, after +7.9% a month earlier.

Economists polled by Reuters on average expected prices to rise 1.2% month-on-month and 8.4% year-on-year.

March marks the sixth consecutive month of inflation above 6%, which could lead the Federal Reserve to accelerate the raising of its interest rates next month.

Inflation excluding energy and food products (“core CPI”) however slowed to 0.3% in March against 0.5% in February but reached 6.5% on an annual basis.

The consensus gave it at 0.5% month-on-month and 6.6% year-on-year.

(Report Lucia Mutikani, French version Marc Angrand)









click here for restriction
©2022 Reuters
Reuters

Leave a Comment