US stocks climb after inflation data shows prices cooled more than expected in March

• US stocks jumps on Wednesday after a key inflation reading for March. 
• The Fed's interest rate hikes are showing results as prices increases decelerate. 
• Still, inflation remains higher than the central bank's 2% target and core CPI showed a small increase last month. 

US stocks moved higher on Wednesday as traders take stock of the cooler-than-expected March inflation report. 

The consumer price index, a gauge of prices for goods and services in the US, rose 0.1% in March compared to economists' estimates of 0.2%, and was up 5% from a year earlier. The closely watched core CPI, which excludes more volatile food and energy prices, accelerated, up 5.6% on an annualized basis compared to 5.5% in February.