Inflation Comes Down to Lowest Points in 2023

By Shubhendra Anand, 11 May, 2023

With the prices reaching 5 percent over the years, the inflation in the United States cooled down to its lowest point in almost around two years in March 2023. In comparison to February 2023 the pries rose by 0.1 percent. It is less than the month-on-month increase recorded in the months of January and February.

According to the reports, the food prices remained unchanged overall from February and the home food fell by 0.3 percent. Also, the energy prices decreased by 3.5 percent in these months and 6.4 percent over the years. The offset can be seen by the rising prices for housing by 0.6 percent since February 2023. It is more than 8 percent of what it was in 2022 around the same time being.

As the information says, due to the rise in housing cost the consumer price index excluding the food and energy is now higher than all other items. As we know, food and energy are considered more volatile items in the CPI. These are cooling faster, and they have rose fastest when inflation took off at in the 2021 ending. As per the reports, at least another one rate hike expected to happen in April-May 2023.  In the words of central bank leader, “it is difficult to get down inflation to 2 percent”.

Change in Consumer Price Index    YoY
The image shows YoY percentage change in US consumer price index

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