Producer price index up 0.5% from February and 4% from March 2025
Consumer prices rose 3.3%, up from 2.4% in February
Prices rose 2.8% in the month
Cleveland Fed's estimates inflation could reach 3.5% in April
Governing council keeping options open as it monitors data
Americans see higher inflation ahead, are less optimistic about stock prices
Research indicates that strong wage growth is keeping inflation elevated
Energy prices increased 4.9%, after falling in February
Central bank is closely monitoring inflation expectations, Fed chair says
Oil shock knock-on effects more likely as conflict drags on