Prices at the Pumps - March 20, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesWASHINGTON - U.S. business activity held steady in March, but prices increased across the board, suggesting that inflation could remain elevated after picking up at the start of the year.
The U.S. central bank on Wednesday left its policy rate unchanged at the current 5.25%-5.50% range, but policymakers indicated they still expected to reduce it by three-quarters of a percentage point by the end of this year. This month's increase in both input and output prices hinted at further rises in inflation in the coming months. Consumer prices have risen strongly in the first two months of 2024.
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