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US Stocks surge after CPI inflation data
The February consumer price index inflation rose 3.2% annual rate, faster than the 3.1% pace set in January. Rising shelter and gasoline costs, according to the Bureau of Labor Statistics, accounted for more than 60% of the index's increase. Meanwhile, the annual rate of core consumer price growth slowed to 3.8% in February from 3.9% in January. While core price growth slowed by slightly less than expected, the slowdown still seems to have added to optimism about the outlook for interest rates.