by Mike Gleason
GoldSeek
As inflation data comes in hotter than expected, markets are reassessing the outlook for rate cuts.
This week’s Consumer Price Index report showed the CPI rising 0.4% in February. That was the largest increase since last September. Higher gas prices and housing costs were major contributors.
On an annual basis, the CPI is now rising at a 3.2% rate – well above the Federal Reserve’s stated 2% inflation target.
Following the CPI release, the Producer Price Index also came in hotter than expected.