Inflation, March consumer price index
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CPI better than feared but oil prices still high; S&P 500 futures rise (live coverage)
March CPI inflation jumped as oil prices soar amid the Iran war, but core CPI was relatively tame. The S&P 500 has a seven-session winning streak.
The Consumer Price Index (CPI) regularly measures the change in the prices paid by consumers in the U.S. for a representative basket of goods and services.
The consumer price index is forecast to rise a sharp 0.9% in March, according to economists surveyed by The Wall Street Journal. It would be the biggest increase since June 2022 during the height of the Russian war on Ukraine.
CNBC's Rick Santelli reports on the March CPI data, which met the Dow Jones consensus estimate of 3.3%.
Headline CPI inflation clocked in 3.3% higher than a year ago while being up 0.9% on a monthly basis, a rapid acceleration from February's levels.
M/M vs. +0.3% consensus and +0.2% prior, according to data released by the Bureau of Labor Statistics on Friday. +2.6% Y/Y vs. +2.7% consensus and +2.5% prior. Headline CPI, including food and energy prices: +0.