CPI Data for March Released - Indicates Low Inflation

The government released its March CPI numbers:

On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the index increased 2.3 percent before seasonal adjustment.

This will likely give the Fed more reasons to wait on rate hikes. As reported by Bloomberg:

Minutes of the Fed's March 16 meeting, at which central bankers said the main interest rate will remain near zero for an "extended period," showed policy makers were surprised by the rate at which inflation was slowing.