The US Consumer Price Index showed prices of consumer goods rose more than expected in March amid rises in cost of petrol and shelter, leaving doubts if whether the Federal Reserve will cut interest rates in June.
According to data released by the Labour Department’s Bureau of Labour Statistics the CPI rose 0.4% last month after similar margin in February.
Following last weeks strong job data in Match as well as drop in unemployment rate to 3.8% from 3.9% in February, many analysts have pushed back their rate cut expectations in July.
