Despite a significant increase in grocery prices, inflation eased down in March.
According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) dropped by 0.1% in March, despite grocery prices rising by half a percent just in one month. Overall inflation over the last 12 months dropped to 2.4%, thanks to a 10% drop in gasoline prices. It should be noted that gasoline prices historically have a high correlation with inflation, and with oil prices falling, there is a high probability that gasoline prices will drop further, putting downward pressure on the CPI and hopefully canceling some of the upward price pressures forthcoming from tariffs..
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(Original air-date: 4/11/25)
