CPI Inflation Seen Spiking to 3.6% but Core Rate Slowing to 4.3%

Should it come to pass, tomorrow’s decline in core CPI will be welcome to policymakers, but even a 4.3% inflation rate is more than double the Fed’s 2% target. And central bankers will have a hard time claiming victory over inflation when consumers are watching prices at the pump advance with each fill-up.