Breaking: US annual CPI inflation rises to 8.5% in March versus 8.4% expected

The annual rate of US inflation, as per the Consumer Price Index (CPI), came in at 8.5% in March, slightly the median economist forecast for a reading of 8.4% and higher versus February's YoY rate of 7.9%. The MoM rate of inflation according to the CPI came in at 1.2% MoM, in line with the median economist forecast for a reading of 1.2% and above versus February's 0.8% MoM reading.