Don't be surprised if the April CPI report suggests more trouble for the Fed. Core CPI is expected to cool to 0.3% versus 0.4% while increasing by 3.6% y/y, down from 3.8%. BloombergEven core CPI has been around a 4% growth rate since September 2022. If the core CPI comes in as expected in April at 0.3% m/m, the core CPI will still be running at the trend that started 19 months ago. Many regional Fed surveys, such as the Philadelphia Fed, Empire State, and KC Fed, also show higher prices in April.

Source: Forbes May 12, 2024 17:03 UTC