U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices for nearly two years.
On Tuesday, the International Monetary Fund, a 190-nation lending organization, warned that persistently high inflation around the world — and efforts by central banks, including the Fed, to fight it — would likely slow global growth this year and next.
And rental cost increases, the biggest driver of core inflation, are likely to continue to slow in the months ahead. According to the government's measures, rents have risen by about 9% in the past year. Last week’s March jobs report, though, showed that wage growth has slowed steadily in the past year. Businesses are posting fewer open positions, and the number of Americans quitting their jobs to take new, mostly higher-paying work — a driver of higher pay — is falling.
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