Consumer Prices Jump

Higher than expected inflation will raise expectations that a rate hike will come sooner than later

The consumer price index for March rose 0.5%, higher than market expectations of 0.3%. Core CPI, which excludes food and energy, was up 0.4% for the month and was also above market expectations of 0.2%. Higher than expected inflation in both core and all items will raise expectations that a rate hike will come sooner than later.

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