US: April’s consumer price index report expected to show inflation has already peaked

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From cnbc.com

April’s consumer price index report is expected to show inflation has already reached a peak — a development that some investors say could temporarily soothe markets. But economists say, even with a reprieve in headline inflation, core inflation could gain on a monthly basis and stay elevated for months to come. Core inflation excludes food and energy costs. The CPI report is expected to show headline inflation rose 0.2% in April, or 8.1% year-over-year, according to Dow Jones. That compares with a whopping 1.2% increase in March, or an 8.5% gain year-over-year. The April data is expected at 8:30 a.m. ET … (full story)