"US Inflation Surprises, Delays Fed Rate Cut"

The US consumer price index rose by 0.4% in March, with a year-on-year increase of 3.5%, leading to expectations that the Federal Reserve will delay cutting interest rates until September. The report also showed a rise in core consumer prices by 0.4% and a year-on-year increase of 3.8%. The persistent increase in inflation has led to a shift in market expectations for rate cuts, with financial markets now anticipating only two rate cuts instead of the previously expected three. The rise in consumer prices is attributed to higher costs for gasoline and rental housing, while food prices at the supermarket remained unchanged and the cost of motor vehicles declined.