🚨 HIGHEST CPI SINCE 2022!
U.S. CPI jumped 0.9% in March marking the biggest monthly inflation increase since 2022.
• Headline inflation came in hot at 3.3% YoY
• Gasoline was the main driver behind the surge
• Core CPI stayed relatively cooler at 0.2% MoM
• Markets now have to price a tougher Fed path again
Headline inflation looks dangerous. Core inflation still looks contained.
That means the market is now stuck between energy shock fears and rate-cut hopes.