DEFLATION: Consumer Prices Unexpectedly Fall 0.2%

The CPI release is out.

Consumer prices unexpectedly fell 0.2% in March from the previous month.

Economists were predicting a flat reading.

Excluding food and energy, prices were up 0.1% (economists were looking for a 0.2% advance).

Year over year, consumer prices were up 1.5% (versus 1.6% expected and 2.0% in February), and prices excluding food and energy were up 1.9% (versus 2.0% expected and 2.0% in February).

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