3.3% Isn’t the Whole Story
Hey trader March CPI came in at 3.3%. That sounds manageable after years of post-pandemic price chaos…but it’s not. Dig a little deeper and we find what we all expected: Gasoline surged 21.2% in a single month. Fuel oil jumped 30.7%. The official methodology strips energy out of its “core” reading because it is considered too volatile. That works fine when oil spikes for a week and fades. March CPI at a Glance Look at the gap between “all items” and “all items less food and energy.” The headline says 3.3%. Core says 2.6%. That 0.7% difference is doing a lot of heavy lifting. Almost the entire monthly increase was driven by energy. Strip it out and you get a number that looks almost normal. Leave it in and you get something much closer to what your wallet already knows. The Problem With “Core” Inflation Every month, the Federal Reserve