3.10.22 Gas Drives Headline Inflation To 40-Year High: Are We Near The Peak Yet?
The Bureau of Labor Statistics released the February Consumer Price Index (CPI) data this morning, showing headline CPI climbed 0.8% month-over-month while core CPI, which excludes volatile food and energy prices, rose 0.5% month-over-month, both around consensus estimates. The one-year increase in headline CPI, at 7.9%, is the highest since early 1982, reflecting ongoing supply challenges in the face of continuing strong demand and the increase in commodity prices (which started to spike towards the end of the month as a result of the Russian invasion of Ukraine).
“The latest CPI numbers actually came in around consensus b
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