US March CPI ex-food and energy +1.8% vs +1.7% y/y expected

Highlights of the US March consumer price index report:

• Prior ex-food and energy was 1.7% y/y
• US headline CPI -0.1% y/y vs 0.0% exp
• Prior headline CPI was 0.0% y/y
• US headline CPI +0.2% m/m vs +0.3% exp

The slightly stronger core reading outweighs the softer headline number but in both cases, there is nothing there to get the Fed excited. The US dollar bulls need a fresh reason to buy but the data just isn't delivering.

Up later U Mich consumer sentiment numbers for March are due.