Stagflation Strikes As US Consumer Prices Surge At Fastest Pace In 5 Years

After the hotter-than-expected PPI print, Consumer Prices confirmed that inflation is running hot with the fastest rise since Feb 2012.

Notably core CPI (at 2.2%) has been above The Fed’s mandated 2% ‘price stability’ level for 15 months in a row.

Of course, one of the big drivers of this price surge is in shelter and rent inflation…

Combined with the weakest GDP growth outlook in over a year, it appears stagflation is looming…

And The Fed is hiking into its face.