Summary
On balance the March CPI report was positive for the Fed. Headline undershot the consensus expectation and slowed markedly versus February, while core came in in-line. The softening among high-level subcomponents was fairly broad-based, and our proxies for the breadth of price pressures among the lowest-level subcomponents of the CPI basket also showed an improvement. A slowdown in shelter inflation has been anticipated for some time – monthly run-rates for rents and OER moderated, and the contribution of shelter to headline overall softened.
Roadshow: 24th - 28th April
Our Q2 roadshow will run during this week, and we’re offering clients and prospects:
- 30 minute outlook presentations with Q&A for institutions.
- A webinar consisting of a 30 minute presentation, with an additional 15 mins for Q&A, on Thursday 27th at 3pm London time / 4pm CEST / 10am New York.
To register your interest please reach out on here or to robert.brown@ashridgemacro.com, specifying whether you’re interested in joining the webinar or receiving an institutional presentation.
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