The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1% on a seasonally adjusted basis in March, after rising 0.2% in February, the U.S. Bureau of Labor Statistics reported Thursday. Over the last 12 months, the all-items index increased 2.4% before seasonal adjustment.

“The March inflation report indicated solid progress toward the Federal Reserve’s inflation target. However, this positive development is overshadowed by the implementation of new tariff measures, which are expected to exert upward pressure on prices and hinder economic growth,” said Dawit Kebede, America's Credit Unions senior economist. "Prices declined in March on a monthly basis, while year-over-year inflation stood at 2.4%. Core inflation, which excludes volatile food and energy components, fell below 3% for the first time in four years. Both headline and core inflation eased more than anticipated.”