The consumer price index (CPI) increased 2.4 percent over the twelve months ending in February, down from 3.6 percent a year earlier.

NPR: Bernanke: U.S. Growth 'Moderate' as Inflation Rises

Most important, inflation remains subdued at just 1.9% in the twelve months to March, below the 2.5%-a-year target set by the chancellor.

ECONOMIST: Interest rates

For example, core CPI inflation over the twelve months ending in February was 2.7 percent, up from 2.1 percent a year earlier.

NPR: Bernanke: U.S. Growth 'Moderate' as Inflation Rises