Core Inflation Rate Disappoints?
CNBC (https://www.cnbc.com/2024/04/09/stock-market-today-live-updates.html) "The consumer price index in March rose faster than economists had estimated, suggesting stubborn inflation and pushing back expectations for an interest rate cut by the Federal Reserve. The CPI rose 0.4% for the month and 3.5% year-over-year. Economists polled by Dow Jones had forecasted an increase of 0.3% month over month and 3.4% year on year. Core CPI, which excludes volatile food and energy prices, accelerated 0.4% from the previous month while rising 3.8% from a year ago, compared to estimates for 0.3% and 3.7%, respectively."
Focusing on CORE CPI trend over a year, it is a steady downward trend. considering that 3.8% for Feb Core CPI and it is still a 3.8% for Mar, we may be taking a breather. The consensus of Wall Street did us in by penciling in a 3.7% for Mar Core CPI. Let's hope that Fed will still go for a 3 rate cuts, 0.75% just in case something breaks.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
