Higher gas and rents keep US inflation elevated, likely delaying Fed rate cuts

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other item. That’s according to a government report that will likely give pause to the Federal Reserve as it considers how many — or even whether — to cut interest rates this year. Prices outside the volatile food and energy categories rose 0.4% from February to March. Measured from a year earlier, these core prices are up 3.8%. Wednesday’s figures represent a disappointment for the White House. Republican critics of President Joe Biden have sought to pin the blame for high prices on the president and use it as a cudgel to derail his re-election bid.