Month CPI for February were projected to be 0.8% increase and annual was projected to be 7.9%. That’s exactly how the numbers just came out.
I’m not surprised by this, but next month’s number is going to be another story with oil prices potentially spiking the number. Let’s all take a moment to remember how many people in the establishment said this was all transitory last year.
Expect the 0.25% rate increase next week. Will that coincide with more clarity from the Russian/Ukraine situation so we can break out of the market’s 2-month downtrend?