According to the Bureau of Labor Statistics, the US consumer price index (CPI) for February rose 0.4% on a monthly basis and 3.2% year-on-year, in line with economists’ forecasts.
Core inflation, which excludes food and energy prices, was also ahead 0.4% in February, slightly surpassing expectations.
“Most Asian stock markets are experiencing gains on Wednesday, taking direction from the overall positive performance of global markets,” said TickMill market analyst Patrick Munnelly.
“This was influenced by the favourable response to the long-awaited report on US consumer price inflation for February, which indicated a decrease in core price growth.
“This has increased optimism about the possibility of the US Federal Reserve reducing interest rates in June.”
Munnelly said the Japanese market opened in the green, but was in modest decline by the end of the day, continuing a trend from the last two sessions.
“This is…
