If you consider that last month’s CPI is affected by 60% increase in gas prices YoY and that retail gas prices dropped 10% in the last month, I think we’re in line for a “good” CPI release tomorrow morning.
Also, the Cleveland Fed’s inflation nowcast is at 8.82 CPI as of today.
Does anybody have more clues? More inflation nowcasts besides Cleveland Fed (I can only find GDP)?
Do we generally agree that anything under 9.1 is considered good for the immediate future?
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