Glacial inflation slowdown set to back US Fed rate-cut caution

The March core consumer price index, a measure of underlying inflation that excludes food and fuel, is seen rising 0.3% from a month earlier after a 0.4% advance in February. Wednesday's report is expected to show a similar increase in the overall CPI. The core price gauge is projected to have climbed 3.7% from a year ago, which would mark the smallest gain since April 2021. While the annual figure is well below the 6.6% peak reached in 2022, progress more recently has been uneven.

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