Warning: Don’t use public charging stations (4 16 24)

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Inflation rose to 3.5% in March. Later in this email, find out which factors are keeping inflation from getting closer to the Fed’s 2% goal.

💵 Today’s Top Stories

💵 Stubborn Inflation: What’s Still Driving It?

Inflation peaked at 9.1% in June 2022.

One year later, it hit 3.0%. The Fed felt confident about the trend. And the markets started pricing in a number of interest rate cuts in 2024.

Ten months later, inflation is 3.5%. It has ranged from 3.1 to 4.1% since hitting that low mark in June 2023.

What, exactly, is preventing that figure from falling closer to the Fed’s stated target of 2.0%? Driven by dynamic and complex macroeconomic factors, it’s complicated. But the data paints a clear picture.

Here are the items that have gone up in price more than 3.5% in the last year:

• Auto insurance: +22.2%

• Vehicle repairs: +11.6%

• Hospital services: +7.5%

• Rent: +5.7%

• Electricity: 5.0%

• Housing: 4.7%

• Food away from home: 4.2%

• Transportation: 4.0%

Fortunately, smartphones (- 9%), car rentals (-8.8%) and TVs (-6.9%)are some of the categories preventing inflation from being even worse.

But owning a car and owning or renting a place to live, the two biggest price tags for many, are costly right now.

📊 Stat of the Day

💰️ Deal Alert: Today’s Top Deals

🎙️ Podcast

It’s Tax Day. Have you filed yet? Clark explains why it’s crucial to file today even if you don’t have the money to pay the bill. Also, Clark just appealed his property taxes. Was it successful? Clark shares his experience, along with reasons why this tax is skyrocketing and steps you can take to try to reduce it.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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