Consumer inflation probably got a boost from rising gasoline prices in February, but it should not break out above the subdued pace that encouraged the Fed to keep interest rates on hold when it met last month.
Consumer inflation probably got a boost from rising gasoline prices in March, but it should not break out above the subdued pace that encouraged the Federal Reserve to keep interest rates on hold when it met last month.
"We've had some weak inflation numbers that actually lead to the Fed backing off from hiking rates," said Ethan Harris, head of global economic research at Bank of America Merrill Lynch. He expects headline CPI to rise by 0.4% and core to be 0.2% higher. Stanley said he expects to see CPI at 0.4% or even 0.5% from the rise in gasoline at the pump, but he said the number is at downside risk because the government is using a new data series to calculate apparel prices in CPI.
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