The consumer-price index is expected to show a large, 0.7% increase when the report is released Friday morning — more than double the gain in the prior month. The increase in inflation over the past year, meanwhile, is forecast to stay near a 40-year high of 8.4%.
Bespoke noted that for a market concerned about inflation, recent reports haven’t offered investors much comfort. Over the past 24 months, there were just three months where headline CPI came in weaker than expected (6/10/20, 11/12/20, and 9/14/21), they said.