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Five Things You Need to Know to Start Your Day

Prices on Fire

It’s CPI day, Russia starts military drills, and a raft of corporate news. 

Today’s consumer price index, published at 8:30 a.m. Eastern Time, is expected to show annual inflation at 7.2%, the fastest rate since 1982.  Core prices, which exclude volatile food and energy, likely rose 5.9%. A high print would add to the pressure on the Federal Reserve to aggressively tighten policy which has already grown since last week’s unexpectedly strong jobs report. Ahead of the data, traders see a higher than one-in-three chance of a 50 basis-point rate hike at the Fed’s March meeting.