CONSUMER PRICE INDEX
The consumer price index (CPI) fell 0.3% in March, following a 0.1% gain in February, and it is up 3.1% annualized. The energy component dropped 3.2% in March; gasoline prices were down 6.1%. Excluding food and energy, the CPI fell 0.1%. Since 1995, year over year growth in the core CPI has averaged 2.1%, just below the Federal Reserve’s inflation target of 2.5%.
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