Consumer prices in the United States recorded its largest increase in 14 months in March, yet inflation remained weak, Labor Department data showed on Wednesday.
The consumer price index (CPI) saw a 0.4 percent surge in March, following a 0.2 percent increase in February, coming in above estimates of 0.3 percent rise. That was the biggest increase since January 2018. The year-on-year reading accelerated to 1.9 percent from a previous of 1.5 percent.
Core CPI- excluding volatile food and energy prices- showed a 0.1 percent surge, similar to February’s pace, compared to expectations of 0.2 percent, while were 2.0% up year over year from 2.1 percent in the year through February.
The dollar index traded higher at 96.78, recovering from the session’s
bottom of 96.45, benefiting from the euro’s retreat after dovish notes form ECB
President Mario Draghi.