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... "The good news of an inflation soft print in March needs to be taken with a grain of salt because the trade war against China from where most consumer goods that Americans buy come from has gone into hyper drive," said Christopher Rupkey, chief economist at FWDBONDS.

The consumer price index dipped 0.1% last month, the first drop since May 2020, after gaining 0.2% in February, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast the CPI edging up 0.1%.

Gasoline prices fell 6.3%. Crude oil prices have declined on growing concerns the global economy is slowing. Cheaper gasoline prices more than offset increases in the costs of natural gas and electricity.

Food prices rose 0.4% after climbing 0.2% in February. Grocery store prices increased 0.5%, boosted by a 5.9% rise in the cost of eggs. There were also solid increases in the prices of meat, fish and dairy products. But fruit and vegetable prices decreased as did those for cereals and bakery products. ...