According to March's Consumer Price Index (CPI) print, inflation rose 0.4% month-over-month and 3.5% year-over-year, slightly hotter than respective estimates of 0.3% and 3.4%. Core CPI — which excludes food and energy costs — also climbed by 0.4% over the prior month and 3.8% over the last year. Morning Brief Co-Hosts Seana Smith and Brad Smith break down the fresh inflation data. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Luke Carberry Mogan.
According to March's Consumer Price Index (CPI) print, inflation rose 0.4% month-over-month and 3.5% year-over-year, slightly hotter than respective estimates of 0.3% and 3.4%. Core CPI — which excludes food and energy costs — also climbed by 0.4% over the prior month and 3.8% over the last year.
Morning Brief Co-Hosts Seana Smith and Brad Smith break down the fresh inflation data.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
Editor's note: This article was written by Luke Carberry Mogan.
Associated Press Finance
Germany's only remaining major department store chain is set to get new owners after its third spell in bankruptcy protection in four years, and the company aims to keep most of its stores open, its insolvency administrator said Wednesday. Galeria Karstadt Kaufhof is to be taken over by a consortium of U.S. private equity firm NRDC Equity Partners, which currently has investments in Hudson's Bay of Canada and Saks Fifth Avenue among others, and German businessman Bernd Beetz's BB Kapital SA.
Reuters
U.S. consumer prices increased more than expected in March amid rises in the costs of gasoline and shelter, casting further doubt on whether the Federal Reserve will start cutting interest rates in June. The consumer price index rose 0.4% last month after advancing by the same margin in February, the Labor Department's Bureau of Labor Statistics (BLS) said on Wednesday. Gasoline and shelter costs, which include rents, accounted for more than half of the increase in the CPI.
The Wall Street Journal
Inflation reports have become the most widely watched economic indicator since prices first surged three years ago. To the extent Fed officials underreacted to the January and February inflation readings, there is a greater risk that a hot inflation number for March could lead to an overreaction.
Read more --->