Cpi Report Expectations

Inflation Likely to Stay High, Next CPI Report Expected to Show

Consumer Prices Expected to Show Overall Inflation, Encouraging March Report Unlikely to Sway Expectations

Here Are Five Key Takeaways From the March Consumer Price Index Report

The next Consumer Price Index (CPI) release for April 2024 is expected to continue this year's pattern of relatively higher inflation. The widely-watched report on the CPI next week is expected to show overall inflation. The encouraging inflation report on Wednesday is unlikely to change those expectations but it could be a step.

The Consumer Price Index likely rose 0.4% in March compared to February, according to the median estimate from economists surveyed by Bloomberg. That would be up from a 0.3% increase in February.

The core CPI, which excludes volatile food and energy prices, is expected to rise 0.3% in March, up from a 0.1% increase in February.

The year-over-year rate of inflation is expected to remain elevated, with the headline CPI increasing by 5.4% in March compared to March 2023. The core CPI is expected to rise 4.3% year-over-year.

Here are five key takeaways from the March Consumer Price Index report released on Wednesday:

• Inflation remains elevated: The CPI rose 1.2% in March, the largest monthly increase since September 2021. The core CPI rose 0.3%, up from 0.1% in February.
• Energy prices continue to drive inflation: The energy index rose 11% in March, the largest monthly increase since April 2020. The gasoline index rose 18.3%, the largest monthly increase since March 2022.
• Food prices are also rising: The food index rose 1.0% in March, the largest monthly increase since April 2022. The index for food at home rose 1.5%, the largest monthly increase since February 2022.
• Shelter costs are rising at a slower pace: The shelter index rose 0.4% in March, the smallest monthly increase since September 2021. The rent index rose 0.4%, the smallest monthly increase since August 2021.
• The core CPI is still rising: The core CPI rose 0.3% in March, up from 0.1% in February. This suggests that inflation is broadening beyond just energy and food prices.