US Inflation Shock Explained: Why Fed Rate-Cut Hopes Are Fading After March CPI Hit 3.3%
U.S. consumer prices rose 0.9% in March, with gasoline surging 21.2%, the largest monthly jump since 1967, according to the Labor Department. The spike complicates prospects for Federal Reserve rate cuts, with officials warning policy easing could be delayed into 2027 if inflation persists. The Fed meets April 28-29; its preferred PCE inflation gauge is due April 30. Wholesale inflation rose 0.5% in March, below forecasts.