On a 3-month annualized basis, Supercore inflation jumped to a whopping 5.5% in March, its highest since December 2022.
Core services less housing inflation is a key metric that the Fed follows, also known as Supercore inflation.
On a 3-month annualized rate it is rising now at the fastest pace since early 2021.
Meanwhile, the market is pricing now less than 2 rate cuts for the entire 2024.
We now have two straight months of higher PCE, PPI, CPI and Supercore inflation.
The fight against inflation is far from over.
https://x.com/KobeissiLetter/status/1784329234590134758
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