US CPI climbs to 2.5-year high, backing expectations for early rate hike By Investing.com


© Reuters.

Investing.com – Inflation in the markets was 0.1 percentage points above expectations in March, fueling the notion that the Fed will act prematurely on monetary policy.

Announced in the minutes before the USA, it increased by 0.6% monthly in March and was the best monthly rise after July. CPI rose to 2.6% on basis and reached the highest level after September 2018. Including the part of the data excluding energy, it exceeded expectations on a monthly and annual basis. The increase in demand due to the lifting of restrictions in the USA was the effect of the increase in CPI.

Following the better than expected data, it climbed to the level of 92.32 and declined after seeing the intraday peak. After hitting an intraday low of 1.1877, it rose to 1.1940 and reached $ 1,740.

The CPI is above expectations and supports the year-on-year bullish forecast, but the dollar was negative due to the initial pricing reaction in the markets.

Author: Necdet Erginsoy

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