Hot Inflation Dims Prospects for Summer Rate Cuts

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A leading measure of inflation was higher than expected in March, as the consumer price index rose by 3.5% on a year-over-year basis. The March report from the Labor Department, released Wednesday, marked the third month in a row that inflation topped exceeded expectations, fueling concerns that pricing pressure in the U.S. economy is getting sticky and could remain a problem longer than analysts had hoped. On a monthly basis, prices rose 0.4% in March, higher than expectations of a 0.3% increas

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