New Inflation Numbers Are Coming. Don’t Be Misled.
An expected decline in the core consumer price index, however, might give investors a false sense of comfort that the Federal Reserve will be able to slow its aggressive campaign to rein in rising prices. Economists polled by The Wall Street Journal expect overall CPI to show a 0.7% increase in May from April, more than double the prior 0.3% month-over-month pace. Year over year, economists expect headline inflation rose 8.3% in May, the same pace as in April.