Looks like another bad inflation report is coming.
A new report says that the expectation is that a “nasty” inflation report is set to drop.
The inflation forecast(excluding food and energy) is expected to be 6.6%.
This would be the highest since August 1982.
Axios: Get ready for a nasty inflation report
â€œA new inflation reading is due out Tuesday morning, and it looks to be a doozy.â€ https://t.co/uuaHIIKIcU
— Steve Guest (@SteveGuest) April 11, 2022
A new inflation reading is due out Tuesday morning, and it looks to be a doozy. The Consumer Price Index for March will reflect the surge in energy prices tied to the war in Ukraine, which is likely to push the headline number to yet another multi-decade high.
Why it matters: The biggest question facing the economy now is whether inflation will come down on its own, or require such aggressive Federal Reserve action as to bring a recession. The new numbers will provide fresh evidence of which reality we’re living in.
Beyond the headline number, the report will include crucial evidence of whether the forces that have driven inflation â€” largely affecting goods â€” are starting to fade, and whether rising prices are spreading further into services.
The details: Analysts surveyed by FactSet expect the release to show 8.4% inflation over the last year, which would be the highest overall inflation rate since December 1981. The rate was 7.9% for the year ended in February.
Excluding food and energy, the forecast is for 6.6% inflation, which would be the highest since August 1982.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions.Â
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