Australia will see April results for the consumer confidence index from Westpac; in March, the index added 0.2% to a score of 103.0.
When you strip out food and energy from the March index, prices were up a modest 0.2 percent, in line with estimates.
While the Fed's preferred gauge of inflation has missed the 2 percent goal in most months since 2012, policy makers anticipate gradual improvement and have projected 1.9 percent inflation for 2018.
But more significant was the 12-month measure for CPI which jumped two tenths to 2.4 per cent, the second straight increase and the highest rate since March of previous year. Bank lending was up 2.1% in February. On a month-on-month basis, the PPI fell 0.2 per cent versus 0.1 per cent decline in February, as the months-long smog war that led to supply constraints and an uptick in factory prices tapered off.
USA wholesale prices increased 0.3 percent in March, driven higher by the largest increase in food costs in almost four years.
The fuel price slump was likely to be dismissed as noise, since economists have predicted the volatility in the spring months after seeing similar moves past year.
Economists had forecast the CPI unchanged in March and the core CPI rising 0.2 per cent. That measure-the price index for personal consumption expenditures-shows inflation continues to run below the Fed's target but is not far off.More news: Panthers 2018 preseason schedule released by NFL
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The U.S. central bank increased borrowing costs last month and forecast at least two additional rate hikes in 2018. But Ian Shepherdson of Pantheon Macroeconomics is among the economists who now expect four moves.
Gasoline prices tumbled 4.9 percent in March, the largest drop since last May, after falling 0.9 percent in February.
A separate report, also released Wednesday by the Labor Department, showed average hourly earnings adjusted for inflation rose 0.4 percent from March 2017.
The cost of other major household expenses such as rent and medical care rose more sharply, however, as did prices for plane flights and auto insurance.
Prices for new motor vehicles and recreation were unchanged last month.
The price of alcoholic drinks and tobacco products increased by 1.3%, in particular those for tobacco goods by 1.7%, alcoholic drinks by 0.8%.