US March CPI +2.6% y/y vs +2.5% expected
March US inflation data
- Prior was +1.7%
- Ex food and energy +1.6% vs +1.5% expected
- Prior ex food and energy +1.3%
- CPI +0.6% m/m vs +0.5% expected (highest since 2012)
- Prior m/m reading was +0.4%
- CPI ex-food and energy +0.3% m/m vs +0.2% expected
- Real avg hourly earnings +1.5% vs +3.4% y/y prior
- Real avg weekly earnings +3.9% vs +4.1% y/y prior
The US dollar is largely unmoved on the release.
Drilling into the details, half the headline rise in March was due to gasoline. The core rise reflected higher rent and auto insurance premiums.