US CPI Data Shows Core Inflation Below Expectations in March 2024
The US Consumer Price Index for March recorded a core year-over-year rate of 2.6%, below the forecasted 2.7%. Supercore CPI rose 3.14% year-over-year, up from 2.75% previously. Canadian employment added 14.1K jobs, meeting unemployment expectations at 6.7%.
Substrate placeholder — needs review · Wikimedia Commons (CC BY-SA 3.0)US Core CPI YoY for March: 2.6% (below forecast of 2.7%).
US Supercore CPI YoY for March: 3.14% (previous 2.75%).
Canada net change in employment for March: 14.1K.
Unemployment rate: 6.7%.
US real average hourly earnings YoY for March: 0.3%.
No direct quotes from officials accompanied the releases in the available data.
Key Facts
Potential Impact
- 01
Federal Reserve holds interest rates steady at next meeting.
- 02
Bond yields decline following lower-than-expected core CPI.
- 03
Canadian wage pressures prompt Bank of Canada rate pause.
- 04
US consumer spending adjusts to slower real earnings growth.
Transparency Panel
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