by Karl Denninger
Market-Ticker.org
… cause we sure got it on the inflation figure.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in March on a seasonally adjusted basis, the same increase as in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.5 percent before seasonal adjustment.
The index for shelter rose in March, as did the index for gasoline. Combined, these two indexes contributed over half of the monthly increase in the index for all items. The energy index rose 1.1 percent over the month. The food index rose 0.1 percent in March. The food at home index was unchanged, while the food away from home index rose 0.3 percent over the month.
Core, all items less food and energy, was also up 0.4, which annualizes to 4.91%.
Forget about rate cuts folks; I told you there was another impulse in the PPI and other data and here it is.