U.S. consumer prices increased by the most in 14 months in March, but underlying inflation remained benign against the backdrop of slowing domestic and global economic growth.
The tame inflation environment and moderating economic activity support the Federal Reserve’s decision last month to suspend its three-year campaign to raise interest rates. The U.S. central bank dropped projections for any rate hikes this year after lifting borrowing costs four times in 2018. . . . more