U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices. Yet prices are still rising fast enough to keep the Federal Reserve on track to raise interest rates at least once more, beginning in May. Rich Pierson, a semi-retired owner of a financial planning business who was shopping this week at Doris Italian Market and Bakery in North Palm Beach, Florida, said high restaurant prices have led him and his wife to eat much more at home. “We cook more at home than we ever have due to the rising costs,” he said. “You do look for the occasional deals and add value when you can — that’s for sure.” The market's operating manager, Chris Alfano says the market has seen plenty of ups and downs over the years. "A lot of it's just being able to weather out the storm and you have to be able to be flexible. If you can't be flexible, you won't be able to last. So, you know, you've got to be able to kind of roll with the times," said Alfano. Consumer prices rose just 0.1% from February to March, down from 0.4% from January to February and the smallest increase since December.
Consistent frugal behaviors by enough people can force retailers and manufacturers to keep prices, and profit margins, in check. But a new longitudinal study by Deloitte found not everyone is curtailing their spending.
Stocks rose slightly Monday, the start of the first full week of earnings reporting season. The S&P 500 rose 0.3%. The Dow and Nasdaq also closed near their highs for the day with modest gains.
