Consumer prices rose 3.3%, up from 2.4% in February
Prices rose 2.8% in the month
Cleveland Fed's estimates inflation could reach 3.5% in April
Investors see rising possibility of a rate hike by October
Fed officials expect the Iran war will worsen inflation this year, but have little impact on economic growth
With fuel prices likely to stoke inflation, projected rate cut less certain this year
Core prices jumped 0.4% for the second straight month
U.S. central bank governor pegs decision on strength of labour market
Prices rose 0.4% in December, up from 0.2% the previous month
The minutes underscored the deeply divided nature of the committee