America's prices surged in March
CNN
Wall Street has been a bundle of nerves about inflation since Democrats passed $1.9 trillion in economic stimulus. Tuesday, some of the first signs of those fears were proven to be true.
Consumer prices rose 2.6% last month, compared to March 2020. They were lifted in particular by surging energy prices, including gas. Excluding volatile gas and food prices, America's consumer prices still rose 1.6% from the previous year, data from the Bureau of Labor Statistics revealed. That was more than economists surveyed by Refinitiv had predicted. The question remains: Is this a temporary sugar rush from stimulus or the start of longer-term inflation that could eat into corporate profits? We don't have those answers yet.
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