CPI inflation report, April 10 -- US consumer prices recorded their sharpest rise in nearly four years in March, reportedly driven by higher oil prices linked to the conflict with Iran and the continued impact of tariffs, reducing the likelihood of an interest rate cut this year.

The Labour Department's Bureau of Labour Statistics reported on Friday that the Consumer Price Index (CPI) climbed 0.9% last month, the biggest increase since June 2022, when prices surged in response to the Russia-Ukraine war. This followed a 0.3% rise in February. On an annual basis, consumer prices increased 3.3% in March, up from 2.4% the previous month, according to Reuters.

The figures were in line with economists' expectations in a Reuters poll, which ha...