The daily business briefing: April 13, 2023

A key inflation gauge increases less than expected in March, Juul Labs agrees to pay $462 million to settle multistate youth vaping lawsuit, and more

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1. Consumer prices rose less than expected in March

The Labor Department reported Wednesday that the consumer price index rose by just 0.1 percent in March, falling short of an expected 0.2 percent increase as gasoline prices fell. Consumer prices increased 5 percent from the same time last year, down from a 6 percent annual increase in February and a 40-year high of 9.1 percent in June. March's annual increase was the smallest since May 2021, and marked the ninth straight month of slowing inflation. Grocery prices fell 0.2 percent, the first monthly decline since September 2020. Still, high housing costs kept core inflation hotter than the Federal Reserve wants, so economists expect the central bank to raise interest rates again next month to continue its fight against inflation.

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