Inflation
Peak Inflation or False Summit?
Yesterday, the Consumer Price Index, “CPI”, reportedly rose +1.2% in March which translates to headline CPI u to +8.5% on a year-over-year basis – the highest reading since 1981. The monthly increase of +1.2% is the biggest since September 2005, and CPI has risen for 22 straight months, coinciding with the fallout in the equity markets following March 2020. Perhaps most importantly for the average American, who actually has to pay for “stuff” every day (groceries, gas, health care, etc.), real average hourly earnings fell for the 12th straight month.









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