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The Consumer Price Index moved up 1.2 percent month-over-month in March, with the year-over-year increase coming in at 8.5 percent, marking the steepest rise since 1981. Core inflation, which excludes food and energy, was more muted, rising just 0.3 percent month-over-month versus a consensus estimate of 0.5 percent. The Producer Price Index surged 11.2 percent year-over-year, the largest annual increase since the Bureau of Labor Statistics began generating the index back in 2010.
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