Inflation refuses to go away quietly. The CPI numbers out today are raising concerns that we may not see the soft landing we were hoping for.
Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer.
US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.
That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months…
“You can kiss a June interest rate cut goodbye,” Greg McBride, chief financial analyst for Bankrate, wrote in commentary issued Wednesday.
The DOW is down more than 500…
