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- CPI rose 0.4% in March and 3.5% on a 12-month basis, above 0.3% and 3.4% estimates.
- Core CPI was up 0.4% on a monthly basis and 3.8% from a year ago, exceeding 0.3% and 3.7% estimates.
- Shelter and energy costs, which rose 0.4% and 1.1%, respectively on the month were the main drivers of the headline CPI.
- Supercore inflation was up 4.77% y/y (11-month high) and 0.65% m/m.
- Stock futures fell following the report. S&P 500 futures shed 1.2%, Nasdaq Composite declined 1.5% while Dow Jones Industrial Average was down 1%.
