US inflation dips to 5% in March

Lowest level since May 2021

Headline inflation in the US fell to an annual 5% in March from 6% in February, undershooting the consensus forecast of 5.1%.

The US consumer price index, released by the Bureau of Labor Statistics today (12 April), came in at its lowest level since May 2021.  The monthly rate of inflation for March was 0.1%, compared to an expected 0.2%, and lower than the rate of 0.4% in February.  Annual core inflation, which excludes food and energy, rose slightly to 5.6% from 5.5% in February, in line with expectations, while the monthly core rate was 0.4%, down from 0.5% the previous month.  US inflation slows to 6% in February The energy index decreased 6.4% for the 12 months ending March, while the food index r...