ACTV - Flash Insights: March Inflation - Yet Another Reason To Delay Easing
2024-04-12 06:25:00 ET
Summary
- On a monthly basis, US headline and core Consumer Price Index topped expectations - both rising 0.4%.
- Although shelter inflation ticked marginally lower, the pace of disinflation remains painfully slow.
- While energy services have slowed since the beginning of the year, the 0.7% m/m increase is still particularly elevated.
By Nikhil Mohan, Economist, Franklin Fixed Income
On a monthly basis, US headline and core Consumer Price Index (CPI) topped expectations-both rising 0.4%. The core measure has now risen at that pace for three successive months. While the pace of increase remained unchanged at 0.5% for core services (which is still more than double the 2012-2019 average), the pace of increase for the supercore measure (core services excluding housing) accelerated to 0.7%. Transportation, medical and other personal services largely drove the rise. On a six-month annualized basis, core CPI is now near 4%, while supercore CPI inched above 6% (the highest since October 2022) and has been on an uptrend for the past five months....
Flash Insights: March Inflation - Yet Another Reason To Delay Easing