Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Big day as March headline CPI comes in light, up one-tenth, and year-on-year falls a full point to 5%.

Yields are dropping, 10-year-3-36. Of course, Buffett on Squawk, also lighting up the tape.

Our roadmap this morning begins with some breathing room for the Fed. The latest key inflation numbers showing price pressures eased once again in March.

Plus, Warren Buffett says we are not through with bank failures.

And energy continues to be a focus. Crude hit its highest level in nearly three months.

And the White House is seeking to boost that transition to EV.

Let's begin with market reaction to CPI today.

Obviously, a hugely anticipated number, Jim, some of the internal shelter up six-tenths,

but some relief in used cars and energy and electricity and food at home.

Yes, food at home is very special.

They brought that up because Conagra talked about that.

Conagra had been one of the companies that had been considered overly raising.

All of their prices, and they said this time we're not raising, because we're such a bargain versus going out.

I thought that was really good.

I often find, though, that some of these things, I just don't know where they pull them off. Like, where did they get? The one that I thought was most confusing was, okay, so motor vehicle insurance, I wanted to ask Warren Buffett that one. That would have been a good one. Airlineine fairs absolutely. Household furnishes. We see the pressure in the...

You don't want to own a single stock in the household furnishing industry because the pressure

is so phenomenal against them.

And that comes out to be a problem.

So I look at this and I say, well, you know what?

Other than shelter, which is still definitely an issue, David,

if you're going to raise rates because of this, you don't care about this.

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