Today’s CPI Report

The bad news is that consumer prices shot up last month. The good news is that it was largely due to rising energy costs. The core rate of inflation, which excludes food and energy costs, was up just 0.1%, less than the 0.2% expected by Wall Street.
Last summer, Ben Bernanke set off a big rally when he said that the Federal Reserve sees core inflation (he uses the PCE) cooling off in 2007. It looks like the Fed was right.

Posted by Eddy Elfenbein on April 17th, 2007 at 9:36 am

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