Peter Cardillo, chief market economist at Spartan Capital Securities, said
latest data matched expectations and core inflation YoY came in slightly below
forecasts, suggesting inflation has not accelerated since last month. He warned
energy is the key variable: if oil does not materially break above $100/bbl,
Inflation may have peaked, though the war remains an upside risk to energy. Core
inflation under 3% YoY is a constructive signal for prices and policy.
