The US consumer price index increased by 0.3% in March, in line with economists expectations. Core CPI, which excludes energy and food prices because of their volatile nature, increased 0.2%. Economists had also forecast a 0.2% gain for the core CPI.
The monthly gain, although mild compared to the producer price index, was largely attributed to increases in consumer energy and food prices. Energy prices at the consumer level rose 1.9%, while food prices increased 0.2%.
Year-over-year, consumer prices have increased 4.0%. Core CPI gained 2.4% in the same period.
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