doesn't suggest inflation is reheating in a major way. But it does preview the path to getting prices under control.Why it matters:
The new numbers are nothing worth panicking about and were broadly as expected by forecasters. But they are a reminder that there are two-sided risks to inflation, with no guarantees that disinflation will be as consistent and painless as it has been in recent months. Over the last three months, core CPI rose at a 4.6% annual rate — higher than the 4.3% comparable measure in December. That is still well below the recent peak seen last spring but moving in the wrong direction.
Heads in the Sand
Hard to reheat when it barely cools down.
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