The Consumer Price Index (CPI) in the United States rises by 2.4% compared to the same month last year. The photo shows a 99-cent store in Santa Monica, California./Courtesy of Yonhap News.
The Consumer Price Index (CPI) in the United States rises by 2.4% compared to the same month last year. The photo shows a 99-cent store in Santa Monica, California./Courtesy of Yonhap News.

The U.S. consumer price index (CPI) for March rose by 2.4% compared to the same month last year.

The U.S. Department of Labor noted on the 10th (local time) that the U.S. CPI for March increased by 2.4% compared to the same month last year. Compared to the previous month, it decreased by 0.1%. This figure falls below the Dow Jones' forecast of a 2.6% increase year-on-year and a 0.1% increase month-on-month.

The core CPI, excluding volatile energy and food prices, rose by 2.8% year-on-year and 0.1% month-on-month, respectively. The core CPI also fell short of experts' projections (3.0% year-on-year and 0.2% month-on-month). This is the lowest level since March 2021.

The Federal Reserve reduced interest rates 11 times and held them steady 8 times before executing its first rate cut last September, making it three consecutive cuts. It then froze rates at the end of January and mid-March, maintaining the target range for the federal funds rate at 4.25% to 4.50%.

There is a high possibility of a freeze at the policy meeting in early May, but recent forecasts suggest more than four consecutive cuts starting in June due to the tariff war from the Trump administration.