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US: US CPI cools in March, but tariffs may push inflation higher
Storyline: U.S. consumer inflation in March increased 2.4 percent from a year ago, after rising 3.0 percent in January and 2.8 percent in February, the U.S. Labor Department reported Thursday. Although inflation has been slowing down, analysts warn that the Trump administration's increased tariffs could drive prices up in the near future. According to a report released by the Bureau of Labor Statistics, the Consumer Price Index (CPI), a broad measure of goods and services costs across the U.S. economy, decreased 0.1 percent on a seasonally adjusted basis in March after rising 0.5 percent in January and 0.2 percent in February. Despite the overall data cooling slightly, egg prices in March increased 5.9 percent month-over-month and 60.4 percent year over year, reflecting an unresolved egg shortage in the United States. U.S. egg prices continued to surge due to a shortage of egg-laying hens amid an outbreak of avian influenza, also known as bird flu, adding continued pressure to the inflationary landscape. The latest inflation report showed that the so-called core CPI, which excludes food and energy, grew 0.1 percent in March, following a 0.2 percent rise in February. The core CPI rose 2.8 percent over the last 12 months ending March, down from a growth of 3.1 percent in February, signaling continuous inflationary pressure. Indexes that increased over the month include personal care, medical care, education, apparel, and new vehicles. The indexes for airline fares, motor vehicle insurance, used cars and trucks, and recreation were among the major indexes that decreased in March. Observers believe policies such as widespread tariff hikes could further raise inflation. A poll recently released by Reuters and Ipsos showed that as Trump imposes broad tariffs on goods from most parts of the world, a majority of Americans are bracing for rising prices on everyday consumer products. Some 73 percent of respondents believe that after the new tariffs on nearly all imported goods take effect, the prices of items they regularly purchase will increase over the next six months. Shotlist: FILE: Washington D.C., USA - Date Unknown: 1. Capitol Hill, traffic 2. Pedestrians, traffic FILE: Washington D.C., USA - May 4, 2022: 3. Various of U.S. Federal Reserve building FILE: USA - Exact Location and Date Unknown: 4. Various of U.S. dollar banknotes being printed FILE: Los Angeles, California, USA - June 2024: 5. Various of cityscap FILE: New York City, USA - Date Unknown: 6. Various of shoppers, goods in supermarket 7. Various of consumers at cashiers FILE: New York City, USA - November 2022: 8. Various of customers dining, chatting, ordering in restaurant 9. Customers paying bill FILE: New York City, USA - Date Unknown: 10. Various of people in shopping street FILE: Virginia, USA - May 19, 2022: 11. Various of vehicles, driver at gas station FILE: Palo Alto, California, USA - March 9, 2022: 12. Driver refueling vehicle at gas station. [Restrictions : No access Chinese mainland]
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