Inflation Up 5 Percent in March, Signaling Fed Could Boost Interest Rates Again
The Fed’s year-long streak of rate hikes are also starting to cool a hot labor market, with recent data showing that companies are advertising fewer openings and that wage growth has been slowing from historically elevated levels.
WASHINGTON — Consumer inflation rose 5 percent in March over the prior year, the government said Wednesday, down from the 6 percent recorded in February. The March increase was the lowest in almost two years, but high enough to suggest that the Federal Reserve will raise interest rates at its next policy meeting in May.
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