U.S. Core Inflation Cools Amid Shift in Data Methodology

• A key measure of U.S. inflation rose less than forecast in March on a drop in apparel prices following a methodology change for data collection, offering some reinforcement for the Federal Reserve’s message of patience on interest rates.
• The core consumer price index, which excludes food and energy, rose 0.1% from the prior month, and 2% from a year earlier, according to a Labour Department report Wednesday
• Those readings missed both the monthly and annual estimates of economists, while the broader CPI climbed 0.4% as forecast and a faster-than-estimated 1.9% annually.

(Source: Bloomberg)