A key measure of inflation fell to nearly a five-year low last month as apartment rental price growth slowed and gas prices fell, offering some relief to Americans still grappling with the sharp increase in costs of the past five years.

What was once seen as a near-certain cut in interest rates next month now looks more like a coin flip as Federal Reserve officials sharply disagree over the economy’s health and whether stubborn inflation or weak hiring represent a bigger threat.

In a story published March 11, 2025, about the potential for a recession, The Associated Press erroneously reported which network President Donald Trump appeared on when he refused to rule out a recession.