Wednesday, 28 May 2025
America Age
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Font ResizerAa
America AgeAmerica Age
Search
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 America Age. All Rights Reserved.
America Age > Blog > Money > Prices were 8.5% higher in March than a year earlier.
Money

Prices were 8.5% higher in March than a year earlier.

Enspirers | Editorial Board
Share
Prices were 8.5% higher in March than a year earlier.
SHARE
A Shanghai neighborhood under lockdown last month. Lockdowns in China risk causing further product shortages in the United States.Credit…Qilai Shen for The New York Times

Price pressures for household goods, apparel, vehicles and other items showed signs of cooling in March, as companies built up extra inventories of products in storerooms and warehouses and shortages abated.

The monthly price increase in a basket of core goods has leveled off, decelerating from a growth rate of 1 percent in recent months to a 0.4 percent decline in March.

The price of used cars and trucks fell 3.8 percent in March from the month before, and the price of new cars and trucks grew 0.2 percent. The price of household furnishings and supplies rose 1 percent in March, the eighth consecutive monthly increase in that category.

But the disruptions that have plagued supply chains continue to show signs of worsening, suggesting that American consumers may see more shortages of products like electronics — and potentially renewed price increases — in the months to come.

In particular, sweeping lockdowns in China to try to stamp out the Omicron variant of the coronavirus have been posing new risks to America’s supply of manufacturing components and finished goods. Although China has tried to keep its ports functioning through the pandemic, restrictions on truck drivers have stemmed the flow of electronics, car parts and other goods out of the country.

Ariane Curtis, global economist at Capital Economics, said in a note last week that, in developed markets, “renewed shortages — particularly of electrical goods — and higher shipping costs could keep goods inflation higher for longer than we currently expect.”

Freight rates have dipped slightly in recent weeks, but they remain far higher than they were before the pandemic. The price to ship a 40-foot container from China to the West Coast of the United States was $15,817 as of Friday, up from $5,893 one year ago and from $1,584 at the same time in 2019, according to data from Freightos, a freight-tracking firm.

Omair Sharif, the president of the research firm Inflation Insights, said it was impossible to accurately forecast how long Chinese lockdowns might continue to disrupt global supply chains and therefore what their inflationary impact would be. But companies have recently made progress building up inventories that were badly stretched earlier in the pandemic, he said, and those excess goods will help cushion the inflationary impact.

Consumers also appear to be cutting back their spending on goods, probably to offset higher food and gasoline prices, Mr. Sharif said.

“People are pulling back because of inflation and high prices elsewhere, so stuff is starting to pile up a bit at the warehouses,” he said. “With inventories we are definitely in a better position to handle a slowdown without a big knock-on effect on inflation.”

Some car industry experts have said that inventory improvement in used cars could be partly a seasonal trend and that new car prices may have moderated because manufacturers have been cracking down on dealers who charge above list prices.

Phil Levy, the chief economist at Flexport, a logistics company, said there was “tremendous concern within the logistics industry that companies have overdone it on orders, are accumulating excess inventories” and will pull back. But the forecast for inflation is complex, he said, since much of what happens will hinge on consumer demand.

“The crystal ball is unusually murky right now,” Mr. Levy said.

— Ana Swanson

TAGGED:Consumer Price IndexFederal Reserve SystemInflation (Economics)Interest RatesPrices (Fares, Fees and Rates)The Washington MailUnited States Economy
Share This Article
Twitter Email Copy Link Print
Previous Article Hepsiburada underscores commitment to sustainability through membership of the United Nations Global Compact Hepsiburada underscores commitment to sustainability through membership of the United Nations Global Compact
Next Article Whoopi Goldberg taking a break from ‘The View’ to film new show: ‘She will be back’ Whoopi Goldberg taking a break from ‘The View’ to film new show: ‘She will be back’

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
TwitterFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

Rayan: Morocco well rescue for five-year-old grips nation

Rescuers have dug a huge hole next to the well (front, centre)Rescuers are still desperately…

By Enspirers | Editorial Board

The AP Interview: US aid chief counters food crisis, Russia

WASHINGTON (AP) — Samantha Power won fame as a human rights advocate and was picked…

By Enspirers | Editorial Board

Who’re the six management candidates to be voted on by Conservative MPs?

Conservative MPs will begin whittling down the management candidates to 4 subsequent week, the primary…

By Enspirers | Editorial Board

Pakistan launches anti-harassment hotline for trans people

ISLAMABAD (AP) — Pakistan on Friday launched a hotline for transgender people in an effort…

By Enspirers | Editorial Board

You Might Also Like

Nasal tanning sprays linked to pores and skin most cancers, buying and selling requirements officers warn
Money

Nasal tanning sprays linked to pores and skin most cancers, buying and selling requirements officers warn

By Enspirers | Editorial Board
Ownwell Evaluate 2025: Can A Property Tax Attraction Service Save You Cash?
Money

Ownwell Evaluate 2025: Can A Property Tax Attraction Service Save You Cash?

By Enspirers | Editorial Board
By no means Ever Hoard Loyalty or Rewards Factors
Money

By no means Ever Hoard Loyalty or Rewards Factors

By Enspirers | Editorial Board
‘Still some fuel in the tank’: the perks and perils of launching a enterprise after 60
Money

‘Still some fuel in the tank’: the perks and perils of launching a enterprise after 60

By Enspirers | Editorial Board
America Age
Facebook Twitter Youtube

About US


America Age: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company
  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement
Contact Us
  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability
Terms of Use
  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© 2024 America Age. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?