The Daily Money: Inflation remains hot
Good morning! It's Daniel de Visé with your Daily Money.
Inflation ran hot for a third straight month in March, Paul Davidson reports, raising questions about when the Federal Reserve will feel confident that price pressures are subdued and it can begin cutting interest rates.
Overall prices increased 3.5% from a year earlier, driven largely by the rising cost of rent and gasoline, according to the Labor Department’s consumer price index. On a monthly basis, costs rose 0.4%, similar to the previous month.
What does that mean for interest rates?
A taxing thought: Which state taxes the most?
With Tax Day approaching, here’s a sobering thought: The average American pays $524,625 in taxes in their lifetime, according to a new study.
The report also ranks states on lifetime tax costs. And residents of one Northeast state pay $987,117 in lifetime taxes, the analysis found, the highest tab in the nation.
Guess which one?
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Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it!
Three-fifths of parents with adult children gave them financial help in the past year, Pew Research reported in a recent study.
The finding illustrates – in case we needed a reminder – that modern parenting does not end when a child turns 18. But supporting an adult child can get costly, financial planners say. And parents need to make sure their own financial needs are met.
Read the full story.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.
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