Former President Donald Trump criticized Biden's handling of inflation, saying it has "totally lost control" after a higher-than-expected inflation report. The March CPI rose 0.4%, exceeding estimates, as gas, rent, and insurance increased prices. The annual inflation rate hit 3.5%, also above forecasts. High inflation has hurt Biden's approval of the economy despite job growth under his presidency. Biden blamed corporations and Republicans for ongoing high prices in response to the data. Stock markets declined on the report, and analysts said it may postpone Fed interest rate cuts.