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MNI US Inflation Insight, Apr-22: Pressures Ease, Just A Bit

EXECUTIVE SUMMARY

  • The March 2022 CPI report saw headline inflation as expected on the month and with a small upside surprise to the year-ago rate but core inflation surprisingly moderated.
  • Core goods inflation still showed a notable moderation even when stripping out weak used autos as the rotation towards services continues.
  • Sellside analysts reviewed in the note were mixed but rate calls were left unchanged, with the path to softer inflation seen being a slow one.
  • Today’s core PPI report suggests this might not be the end of high goods price inflation

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USInflationInsightApr2022.pdf

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