inflation
It was the first monthly decline in overall inflation since May 2020, when the economy was paralyzed by the pandemic.
A tamer-than-expected consumer price index report also likely leaves the Federal Reserve on a path to cut interest rates in the fall.
Led by Sen. Elizabeth Warren (D-Mass.), the senators say high rates may be contributing to higher prices for things like insurance.
The cost-of-living cooled slightly after three elevated readings, likely raising hopes of interest rate cuts.
WHAT'S HAPPENING
"As a kid, if your parents drove by it and stopped, you knew you were in for a treat."
Republican critics of President Joe Biden have sough to pin the blame for high prices on the president and use it as a cudgel to derail his re-election bid.
Last month’s job growth was up from a revised 270,000 in February and was far above the 200,000 jobs that economists had forecast.
Sen. Sherrod Brown (D-Ohio), an economic populist, says he is looking out for organized labor.
About 10% of price increases in recent years come from companies charging the same price -- or more -- for smaller items, a group of economists say.
Lawmakers want to make it an unfair trade practice when companies shrink food and household products but keep the price the same.