Consumer price inflation in March is expected to have risen the most since December 1981, driven by higher food costs, rising rents and runaway energy prices.
"The problem for the Fed is the broadening of inflation from goods into services and also because used car prices might be picking up again," said Swonk."The supply chain issues aren't going away. They're getting worse."
The Federal Reserve is expected to tighten policy aggressively to rein in the hottest inflation in four decades. Markets expect a half point hike in May, and economists say a hot inflation report could also bring a half point hike in June. The Fed first raised interest rates by a quarter point in March, after cutting the fed funds target rate to zero in early 2020.
Simons said energy prices in CPI are expected to jump 18% in March."That first half of March was particularly acute post-Russian invasion. Food prices are a similar story but not nearly to the same extent. ... Housing again is going to be a pretty significant factor," he said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Consumer Fears Over Inflation Hit a Record High in March, New York Fed Survey ShowsWorries are increasing over inflation, with new Federal Reserve data showing a record-high fear over surging prices.
Leer más »
Axios, Bloomberg, others forecast 'nasty' March inflation report: 'Number likely to be ugly'Media outlets and personalities are forecasting a 'nasty' inflation report for the month of March, which is set to be released on Tuesday.
Leer más »
Food prices likely pushed India inflation to 16-mth high in MarchIndia's retail inflation likely sped up to a 16-month high of 6.35% in March, well above the Reserve Bank of India's upper tolerance band for a third straight month, in part due to a sustained rise in food prices, a Reuters poll found.
Leer más »
Horrific Bataan Death March commemorated on its 80th anniversaryHundreds gathered aboard the USS Hornet in Alameda to mark the milestone anniversary of the Bataan Death March in the Philippines.
Leer más »
March breaks record for most tornadoes in a single monthIt was a chaotic meteorological transition into spring as March saw the highest number of tornadoes in a single month in U.S. history.
Leer más »
March breaks record for most tornadoes in a single monthNEW YORK — It was a chaotic meteorological transition into spring as March saw the highest number of tornadoes in a single month in U.S. history.
Leer más »