Core inflation rate hit 3.2% in March, as expected; GDP grew 2% in first quarter
The core inflation rate rose to 3.2% in March, matching expectations, while the U.S. economy expanded at an annualized rate of 2% in the first quarter of the year. The inflation data excludes volatile food and energy prices and indicates continued price pressures despite Federal Reserve efforts. The GDP growth reflects steady economic activity amid higher interest rates aimed at controlling inflation.
- ▪The core inflation rate reached 3.2% in March, in line with market expectations.
- ▪Core inflation excludes food and energy prices to provide a clearer view of underlying inflation trends.
- ▪The U.S. economy grew at a 2% annualized rate in the first quarter of the year.
- ▪First-quarter GDP growth was driven by consumer spending and inventory accumulation.
- ▪The Federal Reserve continues to monitor inflation closely as it considers future interest rate decisions.
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