US inflation at 5%, the lowest it has been since 2021

Monthly consumer price index shows US prices increased at a lower rate in March, though core inflation remains steady

US prices increased 5% over the last year, the lowest inflation has been since 2021, when prices started to climb.

The monthly consumer price index (CPI), which measures the price of a basket of goods and services, for March showed prices made a decent jump down over the last year. In February, inflation stood at 6%, already a steep decline from its peak of 9.1% in June.