US annual inflation, as measured by the Consumer Price Index, dropped for the ninth consecutive month in March. Grocery prices also decreased on a monthly basis for the first time since September 2020. The Bureau of Labor Statistics reported a 5% rise in prices for the 12 months leading up to March, down from February’s 6%. This marks the lowest annual CPI rate since May 2021, with the decline partially attributable to the year-over-year comparisons to a period when food and energy prices spiked due to Russia’s invasion of Ukraine.
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Summary
Article Name
Lowest US Inflation Since May 2021 Reported
Description
US annual inflation, as measured by the Consumer Price Index, dropped for the ninth consecutive month in March.
Author
Susan Jane
Publisher Name
CNN
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