Conor Hanson

Inflation grew nearly 1% in March.

That's on par with what economists predicted, tripling from February.

It's the largest increase since June 2022.

Stripping out volatile food and energy costs, core CPI hit 2.6%.

That was slightly below the forecast.

Inflation is above the Fed's target range and will play a major role in its meeting this month.

Fed members have been divided on when the next cut should come.

Energy costs are up nearly 11 percent, with gas spiking more than 21 percent.

Average gas prices ticked up to $4.15 a gallon a month ago.

That was $3.54.