May 12, 2022 16:15 GMT
Core CPI inflation in April was led higher by airfares but signs of underlying strength
- CPI inflation was stronger than expected in April with core at +0.57% M/M (cons 0.4% M/M) after +0.32%, of which airfares accounted for approximately half the surprise.
- It’s not at simple as just an airfare shock though, with sticky rent prices accelerating and a re-broadening in price pressures.
- Year-ago inflation rates have pulled back from March’s multi-decade peaks but are expected to be slow in their decline.
- MNI reviews summaries of fifteen sell side analysts.
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