A key inflation reading is due out Tuesday morning. Here's what to expect
Publishing timestamp: 2024-03-11 20:41:41
Summary
The Labor Department's Bureau of Labor Statistics is expected to release the latest reading on consumer price index, with forecasts showing an increase in core inflation. Rising gasoline prices are likely to put a floor under inflation, potentially leading to no Fed rate cuts in the near future. Wells Fargo has raised its full-year inflation forecast, with expectations for higher inflation rates. The Federal Open Market Committee will see the last inflation data before its next meeting.
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Keywords: inflation, economy, prices, consumer prices, producer prices, federal reserve bank, business news, wells fargo & co, interest rates,