CPI inflation stays hot in March
- March Consumer Price Index: +0.4% vs. +0.3% expected and +0.4% prior.
- +3.5% Y/Y vs. +3.5% expected and +3.2% prior.
- Core CPI: +0.4% vs. +0.3% expected and +0.4% prior.
- +3.8% Y/Y vs. +3.7% expected and +3.8% prior.
- That translates to a 3.8% increase over the past 12 months, topping the 3.7% increase expected and keeping the same pace as in February, the U.S. Department of Labor said.
- Shelter and gas combined contributed over half of the overall monthly increase.
- Treasury 10-year yields rose 10 basis points to around 4.45%,
The S&P 500 Futures are down 1.45%