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Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981

Prices that consumers pay for everyday items surged in March to their highest levels since the early days of the Reagan administration, according to Labor Department data released Tuesday.The consumer price index, which measures a wide-ranging basket of goods and services, jumped 8.5%...

Weekly mortgage demand rose for the first time since early March last week, but it won’t last

Real estate listingsAdam Jeffery | CNBCA brief calm in the midst of a rising interest rate storm boosted weekly mortgage demand ever so slightly last week, but it is unlikely to be the start of a new trend. Rates have already moved sharply...

The Fed’s favorite inflation gauge rose 5.2% in March as worker pay fell further behind

Canned goods are displayed at a Safeway store on April 11, 2022 in San Anselmo, California.Justin Sullivan | Getty ImagesA measure that the Federal Reserve focuses on to gauge inflation rose in March, likely cementing the central bank's intention to hike interest rates...