- Consumer prices rise 0.1 percent in March.
- Core CPI edges up 0.1 percent, slows from February.
- Weekly jobless claims fall 13,000
U.S. consumer prices barely rose in March and underlying slowed, suggesting little urgency for a cautious to raise interest rates in the near term. A rate hike is unquestionably off the table for April , with a June rate increase increasingly unlikely barring a surge in domestic activity and perceived calm on the international front," said Lindsey Piegza, chief economist at Stifel Fixed Income in Chicago. core CPI , which strips out food and energy costs, inched up 0.1 percent after two strong monthly readings. March's increase in the core CPI was the smallest since August and followed a 0.3 percent rise in February. The Fed has a 2 percent target and tracks an measure which is running below the core CPI .
The Fed's policy-setting committee meets on April 26-27. Market-based measures of Fed policy expectations have priced out a rate hike at this month's meeting and have almost eliminated the chances of a move in June, according to Group's Fed Watch. It currently gives a 41 percent probability of a rate increase in November and a 55 percent chance in December. The Fed lifted its benchmark overnight interest rate in December for the first time in nearly a decade and policymakers recently forecast only two more rate hikes this year.
In a second report, the Labor Department said initial claims for state unemployment benefits decreased 13,000 to a seasonally adjusted 253,000 for the week ended April 9. That matched the level for early March, which was the lowest since November 1973. Jobless claims have now been below 300,000, a threshold associated with healthy labor market conditions, for 58 weeks, the longest stretch since 1973. Below are screen shots of todays data.
- UNITED STATES CPI MM:
- UNITED STATES CPI YEAR ON YEAR:
- UNITED STATES CORE CPI MM:
- UNITED STATES CORE CPI YEAR ON YEAR:
- UNITED STATES INITIAL JOBLESS CLAIMS:
it as a gauge to overall Dollar strength or weakness.