In the latest round of statistics from the Bureau of Labor and Statistics (BLS) the March inflation data has been released [ DATA HERE ]. The Consumer Price Index (CPI) climbed 0.1% in March after advancing 0.4% in February. This puts the 12-month CPI outlook at 5% inflation. [ See Modified Table A on Left ] A 4.6% decline in March gasoline prices was offset by higher rental and housing costs. That was the primary driver of the lowered inflationary data as gasoline is weighted heavier in the impact.
However, that said, gasoline prices are already rising again after Saudi Arabia and other OPEC+ oil producers early this month announced further oil output cuts. This puts the April CPI data (starting to be assembled this week) on track to increase over March.
Overall, in the big picture the data shows the plateau of sorts as we described for this spring. This […]
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