Consumer prices fall in March as expected
Inflation grew at a slower pace in March in the United States the Labor Department said on Friday. The data published today showed the cost of living in the US was lower as energy prices eased slightly, and reinforced the view of some Federal Reserve members who believe inflationary pressures will subside.
CPI y/y rose 2.7% in March as expected, from 2.9% in February while CPI m/m climbed 0.3%, but lower than 0.4% previously, also as expected. CPI ex food and energy m/m rose to 0.2% from 0.1% as expected and CPI ex food and energy y/y was up to 2.3% versus consensus for 2.2%, up from 2.2%.
EUR/USD fell to a session low of 1.3122 from 1.3148 at the release of inflation data from the US.
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