The Consumer Price Index for the month of March will drop in just a few hours. The monthly report measures how much Americans paid for goods and services in a given month.
Some economists predict annual price increases will fall below the 6% we saw in February, making it the ninth decline in as many months.
That report, which will be released at 8:30 a.m., is expected to show what many of us have been feeling when we were grocery shopping or going to the store, prices are up.
Life is expensive, but the new Consumer Price Index report will likely show inflation is slowly but steadily ticking downwards, with the annual price increase falling below 6%, a good sign for the U.S. economy. It will also likely boast continued solid job creation, but some economists say we are not in the clear.
"Given how high inflation is, how long it's been elevated, the potential that it becomes entrenched," Sarah House, a senior economist for Wells Fargo, said. "It's still more likely than not that we will see a recession here in the United States and our expectation is that it probably comes somewhere in the back half of this year."
