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Hello from CNN, I'm Joe Beck with the five things you need to know for Wednesday, April 10th.

We're getting a snapshot of the economy this week, with some key inflation data coming out.

And today, the Consumer Price Index for March showed that prices rose 3.5%

over the last 12 months. That's slightly higher than economists had predicted, and it follows a pattern of the

progress on rising prices stalling in the early months of

2024, largely because of a spiking gas prices and stubbornly high shelter costs.

All that leaves the door open for the Fed to keep interest rates high, rather than slash them later this year as planned, which could mean more pain for borrowers.

And higher inflation is weighing on consumers who are shouldering a record level of credit card

debt, with a new survey from the New York Fed showing some people are unsure if they'll make their

payments on time.

Severe storms are ramping up in the South today, bringing threats of tornadoes and

flash flooding from Texas to Georgia.

We asked CNN's Allison Chincherr for the forecast.

Hey Joe, we are talking tornadoes, damaging winds and hail today, but the most widespread

impact may actually be the flooding.

A flash flood emergency was issued early Wednesday morning for Kirbyville, Texas as feet of water reported

...