Pursuits
Core Consumer Prices in U.S. Cool in Sign Pickup Transitory
- Gain of 0.1% was less than forecast and smallest since August
- Restrained by biggest plunge in clothing costs since 1998
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The cost of living in the U.S. excluding food and fuel rose less than forecast in March, bearing out Federal Reserve Chair Janet Yellen’s forecast that the recent pickup would prove fleeting.
The core consumer-price index increased 0.1 percent, the smallest gain since August, after consecutive 0.3 percent gains the prior two months, a Labor Department report showed Thursday in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 0.2 percent gain. Including the volatile food and fuel categories, the index also rose 0.1 percent.