JUST IN: Inflation cooled to 5% in March, down from a 6% rate in February, the Bureau of Labor Statistics reports.
Link copiedConsumer prices climbed 5% in March, the Bureau of Labor Statistics reported Wednesday, down from a 6% rate in February.
Yet cooling inflation won't prove much solace to consumers, who can still expect to feel the pinch in their pocketbooks for a while longer. It's an unfortunate trade-off: Workers who feel secure about their jobs are comfortable spending, which creates demand in the economy that can drive price surges., the Federal Reserve hopes to make investing, borrowing and ultimately hiring more costly for businesses.
In a recent note to clients, Seema Shah, the chief global strategist of Principal Asset Management, said U.S. inflation is expected to decelerate further through this year,"but only very slowly."
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