Underlying Inflation Shows Signs of Pickup in US

Underlying Inflation Shows Signs of Pickup in US

The Labor Department said Tuesday that the March gain in the producer price index, which measures inflation pressures before they reach the consumer, followed a 0.2 percent rise in February and a 0.4 percent jump in January.

But more significant was the 12-month measure for CPI which jumped two tenths to 2.4 per cent, the second straight increase and the highest rate since March of previous year.

CAPMAS attributed the increase of inflation on a monthly basis to the rise of some commodities' prices, including vegetables by 3.9 percent, meat and poultry by 1.6 percent, fish and seafood by 5.2 percent, and fruits by 1.8 percent.

"Although core CPI is back above 2%, the slight monthly uptick in price pressures should still leave core PCE tracking a little below 2% and therefore does not change our view of the Fed hiking two more times over the remainder of the year", she said.

The Egyptian government expected inflation to decline by the end of this fiscal year (FY) from 17 percent to 13 percent, according to Minister of Finance Amr el-Garhy.

Chinese consumer and producer price inflation both undershot economist expectations in March, largely reflecting the unwinding of temporary impacts caused by Lunar New Year celebrations.

But excluding volatile food and fuel prices, "core" CPI rose 0.2 per cent, matching the consensus forecast.

Lesnar and McMahon reportedly clash after Wrestlemania main event
Naomi had never been eliminated, however, and returned to the ring to eliminate Bayley and win the inaugural Women's Battle Royal. On Sunday , the 34th annual WrestleMania will be taking place at the Mercedes-Benz Superdome in New Orleans , Louisiana.

Last year's weak cellphone services prices are also expected to fall out of the calculation for March PCE price index data, which is scheduled for release on April 30.

Economists had forecast the CPI unchanged in March and the core CPI rising 0.2 percent. It was the first drop in prices in nearly a year.

The Fed tracks a different index, the personal consumption expenditures price index (PCE) excluding food and energy, which has consistently run below the central bank's 2 percent target since mid-2012. "If we are correct, we would expect the Fed to hike three more times in 2018".

But the CPI remains an important benchmark and the March price data could send jitters through Wall Street, where investors get skittish when faced with signs the Fed could raise interest rates more aggressively.

The core CPI was lifted by rising rents and healthcare costs. Prices of cereals and bakery products rose 0.4 percent. That was the biggest annual increase since February 2017.

Alcoholic beverages and tobacco prices went up by 1.9% y/y.

Related News:

  • One Person Killed, 4 Injured in Trump Tower Blaze

    One Person Killed, 4 Injured in Trump Tower Blaze

    Saturday's incident comes three months after a minor fire broke out in a cooling tower on the roof of the building, CNN reported . President Donald Trump tweeted about the fire but didn't mention Todd Brassner, the 67-year-old resident who died.
    Black Panther passes Titanic, becomes third highest grossing movie in American history

    Black Panther passes Titanic, becomes third highest grossing movie in American history

    Black Panther , starring Chadwick Boseman, Lupita Nyong'o, Letitia Wright, Danai Gurira, Daniel Kaluuya and Michael B. Exhausted of having to go to Wakanda? The film has made almost $1.3 billion globally since its premier mid-February.
    Israeli forces kill Palestinian journalist covering Gaza rally

    Israeli forces kill Palestinian journalist covering Gaza rally

    In northern Gaza , Majdi Ramadan Mousa Shbat, 38, died after he was shot in the neck with live fire. Abu Amra said Murtaja was clearly marked as a journalist and wearing a helmet and protective vest.
  • I didn't quite have it today - Rory McIlroy

    I didn't quite have it today - Rory McIlroy

    And lastly, there are plenty of monetary benefits to winning the Masters outside of picking up a giant winner's cheque. The early rain seemed to affect Phil Mickelson and Tiger Woods , who were playing in two of the early groups.
    Ford Motor (F) Expected to Announce Quarterly Sales of $37.22 Billion

    Ford Motor (F) Expected to Announce Quarterly Sales of $37.22 Billion

    The brokerage now has a $10.00 price target on the auto manufacturer's stock, down from their prior price target of $10.78. The lower the ERP5 rank, the more undervalued a company is thought to be. 19,508,608 shares of the company were exchanged.
    Europa League highlights: Arsenal, Atletico cruise

    Europa League highlights: Arsenal, Atletico cruise

    Atletico, the Europa League victor in 2010 and 2012, showed Sporting no mercy. Atletico beat Sporting Lisbon 2-0 after a record 23-second goal by Koke.
  • Hungary's Fidesz could pass 'Stop Soros' law in May

    Hungary's Fidesz could pass 'Stop Soros' law in May

    Soros' face has appeared in campaign ads and the organizations he funds have been targeted with a so-called "Stop Soros" bill. Two smaller leftist parties, DK and LMP, won nine and eight seats respectively. "This is terrifyingly serious".
    Salman Khan Convicted, Gets 5 Yr Jail Term

    Salman Khan Convicted, Gets 5 Yr Jail Term

    Salman's lawyers have reached out to the sessions court, which will hear the bail appeal on Friday morning. He was acquitted in the case but the Maharashtra government has filed an appeal.
    Guardiola: A special day for United, which is a pity

    Guardiola: A special day for United, which is a pity

    You have to defend a little better in the second half, but it is football but. When this happens it's so complicated to win the games.
  • Scott blasts Washington to begin Senate campaign

    Scott blasts Washington to begin Senate campaign

    Scott assumed office in 2011, and has been seen as a blue-chip Republican recruit to challenge Senator Bill Nelson in November. Bill Nelson raised $3.2 million in the first quarter of 2018, his campaign announced Tuesday.
    McGregor involved in backstage melee ahead of UFC 223

    McGregor involved in backstage melee ahead of UFC 223

    McGregor has been released on bail after being charged with three counts of assault and one of criminal mischief . In a video posted by TMZ , McGregor is shown lifting a dolly and throwing it into one of the bus' windows.
    Light wintry mix and snow possible tonight

    Light wintry mix and snow possible tonight

    They are responding to the warm weather by growing enthusiastically, with the fastest growth shown by the Jelly Bean Yellow vine. However it will become drier and perhaps brighter through the afternoon, with maximum temperatures at 14 degrees Celsius.


Most liked

FBI Raids Trump Lawyer's Office, Trump Says It's A 'Disgraceful Witch-Hunt'
President Trump slammed the raid to a room of reporters before meeting with military brass to discuss chemical weapons in Syria. Dawn Dearden, spokeswoman for the US attorney's office for the Southern District of NY , declined to comment .

Richie Incognito Threatens Retirement: "That's it".
However, Incognito told Sports Illustrated that he would come back for one more season "at the right price". It was heavily hinted at by Martin that he was bullied by the former Cornhusker because he was black.

Tottenham appeal second goal against Stoke to be awarded to Harry Kane
The England global pumped his fist in front of the away supporters inside the Bet365 Stadium and then hugged Son Heung-min. You can't think too far ahead. "I definitely feel I will benefit from the break", he said.

Asia Cup 2018 moved from India to UAE
Asia Cup was scheduled to be hosted in India this year but after protests by Pakistan, the tournament was moved to UAE . The Asia Cup has been marred by strained Indo-Pak relations since its inception when the UAE hosted it in 1984.

Cavs fans fight back: LeBron James billboard campaign goes up in Philadelphia
It's been a trying season for the Cavaliers , by James' standards, but it's nothing compared to the Knicks . James said "it doesn't matter" if Kanter plays.

Watch Cardi B Make History as First 'Tonight Show' Co-Host
Less than a week after the release of Invasion of Privacy , Cardi B's debut album is receiving critical and commercial success . And Cardi has admitted she is struggling to cope with the pressures of fame, saying she's lost "control" of her own life.

Uber launches new app for drivers
Founder Rzepecki has been working on this concept for a decade and was one of the original creators of the dockless bike network. The company's bikes also come with dedicated locks to secure the bikes, according to startup profiling site CrunchBase.

Xi Set for Landmark Economic Speech as Trump Trade Fight Simmers
China charges total duties of 25 percentage on most imported cars - a10 percent habits price plus a 15% auto taxation. Larry Kudlow, President Donald Trump's top economic adviser, said China has "got to act like" a First World country.

One Man Dead After Officer-Involved Shooting in Cathedral City
Around 1 a.m., Danville police went to the 2300 block of North Main Street for a domestic assault call in a parking lot. Three officers made contact at the home and were informed by one of the children that the suspect was inside the home.

'A Quiet Place' Crushed R-rated 'Blockers' With $50-M Open
The Ted Kennedy scandal pic Chappaquiddick from Byron Allen's Entertainment Studios, opened to $6.2-M from 1,560 theaters at #7. It's the studio's highest opening weekend since " Star Trek Beyond " in July 2016, which opened at No. 1 with $59.2 million.

Haley: We will respond to Syria attack
Earlier, the United Nations human rights chief said world powers were treating chemical weapons use with a "collective shrug". US Defence Secretary James Mattis yesterday pointed towards Russia's role, and said he would not rule out a military response.

"Will meet 'Rocketman ' Kim in May or early June": President Trump
North Korea has not broken its public silence on the proposed Trump-Kim summit, which US officials say is being planned for May. The North's foreign minister Ri Yong Ho arrived in Moscow on Monday after stopping in Beijing.

'Black Panther' Sinks 'Titanic' To Become Third-Biggest Domestic Movie In History
Jordan, Lupita Nyong'o is the 18th film in the superhero movie franchise dubbed the Marvel Cinematic Universe. Black Panther is in theaters now, while Avengers: Infinity War hits the big screen April 27.

Goolaerts in serious condition after cardiac arrest at Paris-Roubaix
Terpstra, whose Quick-Step team had been expected to dominate the race, said nothing could have been done to stop the Slovak. They later appealed for people to refrain from speculation as they wait for an update on his situation.

Russian embassy comments on new U.S. sanctions
In January, lists of Russian officials and oligarchs were published by the State Department and Treasury. Campaigners against Kremlin corruption welcomed the United States move.