Oil prices gained over 2% on Wednesday amid the release of U.S. consumer price data for March showing consistent inflation pressure that has analysts predicting the Federal Reserve will raise interest rates in May. The U.S. Consumer Price Index (CPI) rose a slight 0.1%, compared to its 0.4% increase in February, according to Department of Labor data released Wednesday. Year-to-date, the CPI is up 5%, compared to 6% year-to-date in February. The Dow edged up slightly on the CPI data, which suggests slowing inflation, but not enough to inject a great…
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