According to a Bureau of Labor Statistics report released on Thursday, the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries, and rent cost – decreased 0.1% in March compared with last month.
It remains up 2.4% on an annual basis.
According to Fox Business, both of the figures were cooler than the estimates of LSEG economists, and represented a cooling from February, when it rose 0.2% on a monthly basis and headline inflation was 2.8%.
From Fox Business:
So-called core prices, which include more volatile measurements of gasoline and food to better assess price growth trends, were up 0.1% from the prior month and 2.8% on an annual basis, cooler than expected. The headline figure was down from 3.1% a month ago, while the monthly core data ticked up from 0.2%.
The report showed that inflationary pressures in the U.S. economy remain persistent despite progress in bringing inflation closer to the Federal Reserve’s 2% target in recent years.
High inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. Price hikes are particularly difficult for lower-income Americans, because they tend to spend more of their already-stretched paycheck on necessities and have less flexibility to save money.
Food prices increased 0.4% in March and were 3% higher on an annual basis. The food at home index was up 0.5% on a monthly basis and 2.4% from a year ago, while the food away from home index rose 0.4% in March and is 3.8% higher than a year ago.
Trump hit TRUTH Social for a quick hit Thursday AM: “Just out: INFLATION IS DOWN!!!” he posted.
The White House Rapid Response account on X shared a CNBC clip on the inflation report, saying, “Under President Trump, America is BACK — but inflation is NOT.”
Watch the clip below:
"THESE ARE DEFINITELY LOW NUMBERS": New data shows inflation eased in March, smashing expectations for the second straight month.
Under President Trump, America is BACK — but inflation is NOT. pic.twitter.com/sYRgwV1tBN
— Rapid Response 47 (@RapidResponse47) April 10, 2025
And just yesterday, House Minority Leader Hakeem Jeffries said inflation is rising.
YESTERDAY: @RepJeffries says “inflation is going up.”
TODAY: Consumer prices drop for the first time in nearly three years. pic.twitter.com/VUrTpWVN5i
— Rapid Response 47 (@RapidResponse47) April 10, 2025
Thank you for visiting