Inflation will remain higher for longer, boosted by Fed money printing and easing base effects. In this morning's Early Look Financials analyst Josh Steiner dove into the inflation dynamic and showed why it's a complicated equation to solve.
"Interestingly, while core goods inflation is negative (-0.7% Y/Y in March) and has been negative for the last three months, manufacturing input costs are now climbing at their fastest pace since 2022. Meanwhile, core services inflation (ex-housing) has been steadily accelerating in each of the last six months and now sits at +5.02% Y/Y, up from +3.74% in September 2023."
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