The consumer price index and core consumer price index both increased by 0.4 percent in March, surpassing expectations. Core inflation remained at 3.8 percent for the second consecutive month. The annualized headline CPI stands at 4.6 percent, challenging the belief that inflation was under control based on previous data. This marks the fourth consecutive month of inflation exceeding forecasts.
The consumer price index rose by four-tenths of a percentage point in March, exceeding expectations and matching the February reading. The core consumer price index, which excludes food and energy prices, also increased by 0.4 percent, higher than the 3.2 percent in February and the expected 3.4 percent. Core inflation remained at 3.8 percent for the second consecutive month, defying predictions of a decrease. The annualized headline CPI stands at 4.
6 percent, providing a more stable measure of inflation trends. This challenges the belief that inflation was under control based on the three-month annual numbers from last year. In November, for instance, the three-month annualized headline CPI was 1.7 percent and the core rate was 2.8 percent. However, the current three-month annualized rate for headline inflation is 4.6 percent, while core inflation is at 4.4 percent. This continuous underestimation of inflation indicates a failure in economic analysis and a refusal to accept the reality. The Biden administration and Wall Street's celebration of victory over inflation last year now seems premature. This marks the fourth consecutive month of inflation surpassing expectations. The Northeast experienced a stock market decline and an increase in bond yields, with the yield on 10-year Treasuries reaching its highest level since November
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