BTW, harmonized core CPI was up 1.9% yoy in March. Below target. Harmonized excludes OER, as done in many other developed economies. And which makes sense to do given that measuring owners equivalent rent is highly problematic. Especially now with the affordable housing shortage.

Rightly or wrongly, tomorrow’s report on March consumer price inflation has seemingly taken on outsized importance for investors. To be sure, it will have bearing on whether the Fed begins to lower rate as soon as June. The consensus expects a 0.3% increase in the month on…

Moody's Analytics' Mark Zandi tells @cnbcsri that a June rate cut is not necessarily off the table despite the latest strong jobs report, adding that the inflation data this week could be key.