"The slightly stronger than expected CPI doesn’t do much to add to [the Federal Reserve's] confidence, but they can still ponder the possibilities for May, June, and July," said Mark Hamrick, senior economic analyst at Bankrate. The food index, as well as the food at home index stalled, but the food away from home index edged up 0.1%. On a Y/Y basis, the measure rose 3.2%, more than the 3.1% pace expected and +3.1% in the prior month. Excluding food and energy, core CPI increased 0.4% vs. +0.3% consensus and +0.4% prior. Stock index futures extended gains after the CPI report.

Source: Wall Street Journal March 12, 2024 12:40 UTC