Inflation rate ticks higher, could delay interest rate drop

The video discusses the recent rise in inflation, highlighting the Consumer Price Index (CPI) report which shows a 0.4% increase from February and a 3.5% increase from last March. This marks the third consecutive month of higher-than-expected inflation data. Economist Dr. Kishore Kulkarni explains that this trend may hinder the Federal Reserve's plans to lower interest rates, as the economy has not yet reached the target inflation rate of 2%. Key factors driving inflation include rising costs of gas, shelter, car insurance, and medical care, while food prices remain stable. Despite these increases, overall inflation has decreased significantly from its peak in June 2022.

How does the cost of food at home compare to a year ago according to the text?

What was the peak inflation rate in June 2022, and how much has it fallen since then?