Markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.
by Brian Evans
CNBC.com
A hotter-than-expected consumer price index report rattled Wall Street Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.
Along with the overall inflation measure, economists also look at the core CPI, which excludes volatile food and energy prices, to find the true trend. The supercore gauge, which also excludes shelter and rent costs from its services reading, takes it even a step further. Fed officials say it is useful in the current climate as they see elevated housing inflation as a temporary problem and not as good a measure of underlying prices.
Supercore accelerated to a 4.8% pace year over year in March, the highest in 11 months.
WASHINGTON — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.
When the price of oil rises, the price of everything else rises. It’s a near-universal rule owing to the fact that virtually all goods and services involve the use of oil at some stage of the supply chain that brings them from producer to consumer.
Democratic Party analysts and left-leaning economists have had quite enough of their fellow Americans’ complaints. As a striking number of poll respondents express alarm, despair even, about the rising cost of living during Joe Biden’s presidency, experts shake their heads. Don’t people realize that jobs are plentiful, wages are rising, and inflation is in retreat?
Consumer prices rose 3.5% in March compared to a year ago, accelerating markedly from the previous month and reversing some of the progress achieved in a two-year fight to cool inflation, U.S. Bureau of Labor Statistics data showed. The finding matched economists’ expectations.
Claim: President Joe Biden claimed on Wednesday that inflation was “skyrocketing” when he took office.
Welcome to this week’s Finance University episode.
Including by 7.9% annualized for the not-seasonally adjusted PPI, worst since June 2022. So we’ll take a look.
(Bloomberg) — Signs that inflation has yet to release its grip on markets have simmered for weeks. Now they’re boiling over after Wednesday’s hotter-than-forecast consumer price index sent stocks and bonds reeling.