U.S. CPI Comes in Faster Than Hoped, Rising 0.4% in March, 3.5% Y/Y

Inflation data once again has disappointed, with the Consumer Price Index (CPI) for March rising more than anticipated and casting doubt on hopes for a Fed rate cut at some point this summer.

The CPI for March rose 0.4% versus expectations for 0.3% and February's 0.4%. On a year-over-year basis, CPI was up 3.5% versus 3.4% expected

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