MARCH 13, 2024 – The February report came in at 3.2%, just above my forecast of 3.0%-3.1% and the consensus estimate of 3.1%.
The 3-month annualized inflation rate is 4.3%. The 6-month annualized inflation rate is 2.2%. These figures bracket the annualized rate (3.2%) and thus indicate the annual CPI should remain in this area for awhile.
The data is predicting a reading between 3.0% and 3.2% next month. I think this will be on target.

Shalom,

The Mann