The latest narrative on Wall Street is that inflation might not have peaked yet.
Or, at the very least, the disinflation trend may be put on ice for the time being.
With a couple of weeks until the much-anticipated February consumer price index (CPI) and personal consumption expenditures (PCE) price index, there is a look at the Federal Reserve Bank of Cleveland’s Inflation Nowcast:
CPI: 6.21 percent year-over-year and 0.5 percent month-over-month
PCE: 5.23 percent year-over-year and 0.5 percent month-over-month
The latest S&P Global Services Purchasing Managers’ Index (PMI) confirmed that the services sector is witnessing a re-acceleration in inflation amid growth in activity for the first time in eight months.
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