Josh Nye, senior economist at the Royal Bank of Canada, notes that the US all-items inflation rose to 1.9% year-over-year in March from 1.5% in February, which was the slowest in more than two years.
Key Quotes
“Energy price deflation continued to ease, with gasoline prices now little changed from a year ago.”
“Food prices continued to trend higher and are now running at their fastest year-over-year pace since 2015.”
“CPI excluding food and energy continued to edge lower; March’s 2.0% pace was the slowest in a year.”
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