, Columnist
What to Expect as Inflation Is Getting More Entrenched
The focus on “peak” headline numbers shouldn’t overlook that price increases are digging in and broadening.
Car rental prices rose again in March, but are below their peak from 2021.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
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Another month, another set of terrible inflation data for the U.S. The headline number topped 8% for the first time in four decades, but the overall numbers were not wildly different from what had been expected. As a result, the market reaction wasn’t dramatic, with bonds regaining a little from Monday’s selloff but leaving the dramatic rise in yields this year intact, while stocks fell a little. What’s under the surface? Here are answers to the critical questions.