The headline figure from Today’s CPI release of 7.9% annualized was a nice jump from the 7.5% print in January and the markets shrugged it off as that was exactly what was priced in.
Oil futures rose about 10% in February; the real spike came in March. Gasoline followed:
March 2022 CPI will be released on April 13th. The trend will continue, and a 9% print cannot be ruled out. the previous year number for March 2021 was only 0.6% Month over Month, an easy number to beat.
As we push through the year, the parobolic growth of CPI will not be sustained as it is compared to the high growth seen last year. That inflection point won’t be reached until at least May. With war, continued supply chain issues, and continued money printing, hot inflation isn’t going away anytime soon
Unless you have all your savings invested making more than 8% a year, you are being stealth taxed. Wonder why those concerned about wealth inequality or excessive taxation are silent on this issue?