Washington | Stubborn inflation driven by fuel and rent has raised concerns of a resurgence in consumer prices and slashed expectations the US Federal Reserve will start cutting rates in June.
Overall consumer prices rose 0.4 per cent in March, pushing the annual rate to 3.5 per cent, up from 3.2 per cent in February and higher than the 3.4 per cent expected by most economists, the Labour Department said on Wednesday (Thursday AEST).
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
