CPI data show gas prices boosting cost of living but inflation restrained
The numbers: Americans paid more for gas and rent in March, but broader inflationary pressures remained bottled up amid a slowdown in the economy early in the new year.
What’s more, the more closely followed core measure slipped again to a 12-month pace of 2% from 2.1%. That’s the lowest level in a year. The average price of gas nationally rose almost 10% in March to $2.62 a gallon, government figures show. The last time prices were that high was in November. Inflation has tapered off after a sharp runup a year ago, and with the U.S. and global economies growing more slowly, there’s little likelihood of an outbreak in inflation anytime soon. What they are saying?: “Looking past the swings in energy prices during recent months, the economy still shows little sign of building inflation pressure despite a low unemployment rate and accelerating worker wages,” said Ben Ayers, senior economist at Nationwide.
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