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The U.S. Labor Department released consumer price inflation data on Thursday. The U.S. consumer price inflation rose 0.1% in March, missing expectations for a 0.2% gain, after a 0.2% drop in February.
The index was mainly driven by higher energy prices, which climbed 0.9% in March.
Shelter costs climbed 0.2% in March, medical care costs were up 0.1%, while food prices decreased 0.2%.
On a yearly basis, the U.S. consumer price index decreased to 0.9% in March from 1.0% in February, missing expectations for a rise to 1.1%.
The U.S. consumer price inflation excluding food and energy gained 0.1% in March, missing expectations for a 0.2% rise, after a 0.3% increase in February.
The increase was driven by rents and medical costs.
On a yearly basis, the U.S. consumer price index excluding food and energy fall to 2.2% in March from 2.3% in February. Analysts had expected the index to remain unchanged at 2.3%.
The consumer price index is not preferred Fed's inflation measure.