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The data, due at 8:30 am ET, is expected to show the consumer price index (CPI) increased 0.4% last month after gaining 0.3% in January. In the 12 months through February, the CPI is expected to have increased 3.1%, according to a consensus analysts' estimate in an LSEG poll. Data showing signs of a robust economy slowed the stock market's rally last month, as traders pushed back expectations on the timing of the first Fed rate cut to June from March.

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