As measured by the CPI, inflation in the US is set to rise at an annual pace of 2.6% in March, down slightly from the 2.8% reported in February. Core CPI inflation, which excludes the volatile food and energy categories, is expected to ease to 3% in the same period from a year earlier, compared to a 3.1% growth in the previous month.

The Bureau of Labor Statistics reported Thursday that the Consumer Price Index fell 0.1% in March to hit an annual rate of 2.4% before seasonal adjustment. It was lower than expected.

March was the best month for consumer prices in nearly five years, as falling gas prices helped out household budgets despite increases for other necessities. However, the report showed data from before many of President Donald Trump's latest tariffs took effect.