As I discussed in the April Macro Tides and last week’s WTR, the March CPI was expected to move the financial markets. “ The Consumer Prices Index (CPI) for March will be announced on Wednesday and the Producer Prices Index (PPI) on Thursday. The CPI and PPI were up in January and February, so the reports for March will be market moving. As I’ve said , “ One month is a fluke, two months is noted, and three months represents a trend. ” The March CPI will move higher due to the low takeaway value from March 2023 and higher energy prices. The PPI increased from 1.0% in...
