Inflation Up Again In March

WASHINGTON (AP) — Consumer price increases remained high last month, boosted by gas, rents, and car insurance, the government said in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year. Prices outside the volatile food and energy categories rose 0.4% from February to March. Measured from a year earlier, these core prices were up 3.8%. The Fed closely tracks core prices because they tend to provide a good read of where inflation is headed. The March figures, the third straight month of inflation readings well above the Fed’s 2% target, threaten to torpedo the prospect of multiple interest rate cuts this year.