Has Inflation Peaked?
Lead by surging gasoline prices US CPI did not disappoint coming in at 8.5% YoY.
Core CPI came in at 0.3% vs expectations of 0.5%, offering a glimmer of hope that March’s print could be the peak of inflation.
Today’s data keeps the Fed on track to deliver a 50bps hike at their next meeting. The miss in core inflation might allow some breathing room for interest rates to stabilize for the moment.