Inflation in March rose less than expected, a positive sign for the economy.
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The Consumer Price Index rose only 0.1% from February to March, lower than the estimated 0.2%.
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Transportation saw the largest increase, rising by 1.4%, followed by shelter and medical care.
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The price of food at home fell for the first time since September 2020, down 0.3%.
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The drop in inflation is renewing optimism that inflation can be tamed without causing job loss.
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Janet Yellen does not anticipate a recession in the near future, citing strong job growth and lower inflation.
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Traders are still expecting a 25 basis point increase in interest rates at the Fed's next meeting in May.
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