The U.S. March consumer price index showed moderation due to lower energy prices and after accounting for an 11% hike in tobacco prices that reflected new excise taxes.

March CPI was a better-than-expected down 0.1% and core was up 0.2%, marking its third monthly 0.2 point gain. Overall CPI fell 0.4% over the year in its first decline since a similar lower 0.4% in 1955; core CPI was up 1.8% over the year.

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