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Cleveland Fed Median CPI Points To Potential M/M Inflation Peak

US DATA

Cleveland Fed median CPI came in at a 3-month low +0.48% M/M in March, vs +0.53% in Feb and +0.58% at the cycle peak in January (which was the highest since 1982).

  • That's arguably another sign that inflation pressures have peaked though remain very elevated by historic standards.
  • Base effects mean that Y/Y came in at 4.91%, though, and that is a series high (going back to the early 1980s).

Source: Cleveland Fed, MNI

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