-- The consumer price index jumped by 0.9% in March, with energy prices up 10.9% on a record high 21.2% jump in gasoline prices, accounting for almost 75% of the overall price increase.
Consumer prices were up 0.2% excluding food and energy prices, below expectations, with food prices flat.
The year-over-year increase accelerated sharply to 3.3% from 2.4% in February, the highest in nearly two years, while the core measure was up 2.6% year-over-year after a 2.5% rate in the previous month.
Owners' equivalent rents rose by 0.3% and regular rents were up 0.2%, both faster gains than in the previous month.
In addition, prices of new vehicles rose by 0.1% after a flat reading in the previous month, used vehicle prices fell by 0.4% for a second straight month but airline fares rose by 2.7%.
The preliminary Michigan Sentiment index fell to 47.6 in April from 53.3 in March, reflecting a large increase in one-year inflation expectations that pulled down both the consumers' assessment of current conditions and the near-term outlook
Michigan said the decline in sentiment was seen across all income and age groups, with respondents citing the conflict in Iran.
Factory new orders were flat in February with transportation orders down 5.3% and the remaining categories combining for a 1.2% gain.
Durable goods orders were revised up to a 1.3% decline from the 1.4% decrease in the advance estimate, while nondurable goods new orders rose by 1.5%.
Factory shipments rose by 1.4% and factory inventories increased by 0.1%. When combined with already-published advance estimates for retail and wholesale sales, business sales are on pace for a 1.7% gain in the month.
The US Treasury reported a $164.1 billion budget gap in March, wider than the $160.53 billion deficit reported in March 2025, but the fiscal year-to-date gap was smaller this year than in the same period a year ago.
The Q1 GDPnow estimate from the St. Louis Fed is for a 1.992% gain, up from a 1.703% increase in the previous week.