Inflation Higher Than Expected

The Consumer Price Index rose 0.8%, above the estimate of 0.4%, and the core rate, which excludes food and energy, increased 0.3%, above the expectations of 0.2%. Year-over-year, the headline rate rose from 5.0% to 5.6%, which marks the highest rate since January 1991. The core rate increased from 2.4% to 2.5%, well above the Fed’s implied comfort range of 1-2%. More from Bloomberg...