March may have seen US inflation peak but it will likely take time to retreat 

The March consumer price reading represents what many economists expect to be the peak of the current inflationary period

While the Fed has opened the door for a half-percentage point increase in interest rates, inflation isn’t likely to recede to the central bank’s 2% goal any time soon.

US consumer prices rose in March by the most since late 1981, underscoring the painfully high cost of living and reinforcing pressure on the US Federal Reserve to raise interest rates even more aggressively.

The consumer price index increased 8.5% from a year earlier following a 7.9% annual gain in February, new data showed. The widely-followed inflation gauge rose 1.2% from a month earlier, the biggest gain since 2005.