US March CPI just came in at 3.3% YoY (vs 3.4% expected, 2.4% prior).


Core CPI at 2.6% YoY (vs 2.7% expected).
Slightly cooler than feared.
The Iran oil shock (WTI $67 → $115) did not fully show up in this print as aggressively as many expected.
Immediate implication:Rate cut hopes stay alive for June/July. Markets likely rip on relief.
You decide:Was this the peak inflation scare… or just a delayed hot print still coming?
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