by Ryan McMaken
Mises.org
According to the Bureau of Labor Statistics’ latest price inflation data, CPI inflation in March rose to a seven-month high, and price inflation hasn’t proven nearly as transitory as the regime’s economists have long predicted.
According to the BLS, Consumer Price Index (CPI) inflation rose 3.5 percent year over year during March, without seasonal adjustment. That’s the thirty-seventh month in a row of inflation well above the Fed’s arbitrary 2 percent inflation target.
Month-over-month inflation was flat with the CPI rising by 0.4 percent from February to March, with seasonal adjustment. Month-to-month growth had also been 0.4 percent from January to February.