US March CPI 8.5% y/y vs 8.4% expected

The White House warned ahead of this report that it expects inflation to be 'extraordinarily elevated'. Let's look at the numbers:

• Prior was 7.9% y/y
• m/m reading 1.2% vs 1.2% expected and 0.8% prior
• Full report

Core CPI:

• y/y 6.5% vs 6.6% expected and 6.4% prior
• m/m 0.3% vs 0.5% expected and 0.5% prior

Details:

• CPI energy +11.0%
• Gasoline +18.3%
• New vehicles +0.2%
• Used vehicles -3.8% m/m
• Owners' equivalent rent +0.4%
• Real earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term -1.1% vs -0.4% prior

I think the conversation will start to change on inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term when the month-over-months numbers begin to flatten out. For April (as it stands), there will be large negative pressure from gasoline prices if oil stays near $100. The fall in used vehicle prices will also be a drag on inflation for the foreseeable future. That said, with the lockdowns in China we could be on the cusp of a new round of supply chain shortages.