BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 email@example.com
Announced this morning, the Consumer Price Index fell 0.1% in March, slightly lower than the flat reading expected by economists. The index increased 2.4% on an annual basis as expected. The core rate, which excludes food and energy prices, increased 0.2% for the month and has increased 2.1% year over year, matching forecasts. Gas prices held down the core rate while shelter and medical care services supported the increase in the core.
Overall, inflation remains in check, but is now in the 2% range for the core, which has been previously noted as a target by the Federal Reserve. They likely remain on track for measured rate increases in the months ahead, assuming inflationary pressures don’t push higher from here. Equity futures are lower this morning, again following the news out of Washington (talk of potential missile strikes in Syria). The upcoming earnings season could help by steering focus back to company results in the weeks ahead.
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