US consumer prices rose 3.3% year-over-year in March, matching economist forecasts after a 2.4% increase in February, according to the US Labor Department. The monthly gain accelerated to 0.9% from 0.3% the prior month, also in line with expectations.

Energy prices jumped 10.9% month-over-month, the largest increase since September 2005 and a sharp reversal from February's 0.6% gain. Gasoline prices led with a 21% surge, tied to escalating tensions from the Middle East conflict, as reported by IEX citing ABM FN-Dow Jones.

This spike pushed the headline CPI higher, though analysts note such volatile components often even out over time.

Core CPI, excluding food and energy, increased 2.6% year-over-year, up from 2.5% in February but still viewed as a mild positive surprise by some observers. The monthly core rise held steady at 0.2%.

ING economists highlighted that secondary effects from the energy shock, if any, would take months to appear in core measures. They expect these figures to leave Federal Reserve rate cut expectations largely intact.

US equity futures pointed to a modestly higher open, with S&P 500 contracts up 0.2% and Nasdaq futures gaining 0.3% about 30 minutes before the bell. The prior day's close saw the S&P 500 rise 0.6% to 6,824.66, Nasdaq up 0.8% to 22,822.42, and Dow Jones adding 0.6% to 48,185.80.

WTI crude dipped slightly to $97.57 per barrel amid ongoing geopolitical developments. Hopes persist for diplomatic talks this weekend in Pakistan between Washington and Tehran, alongside potential Israel-Lebanon discussions next week. President Trump urged Israel to ease attacks risking cease-fires and expressed doubts over Iran's compliance with recent deals, particularly regarding the Strait of Hormuz shipping.

Société Générale described market sentiment as fragile, with investors likely staying cautious and opportunistic.

The euro traded at 1.1719 against the dollar post-data.

These readings underscore the inflationary pressures from commodity shocks amid global uncertainties, though the alignment with forecasts tempers immediate policy shifts.