Inflation: New 40 Year Highs

Headline CPI reached 7.9% in February, a new 40-yr high (but still well below actual inflation which exceeds 15%.)

All categories are all well over the Fed’s 2% annual target with little hope of a pullback any time soon.

Energy prices continue to soar, with gasoline prices near new all-time highs.Even at these levels, however, they continue to diverge from headline inflation on a YoY basis.

As expected, futures have given up much of yesterday’s nonsensical gains.continued for members


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