Why Did Economists Blow the CPI Forecast So Badly This Month?

by Mish Shedlock, Mish Talk: Economists blew the CPI forecast badly underestimating inflation this month. Let’s investigate why, including my advance warning on the key component. Bloomberg Economist Expectations CPI M/M: 0.7% Expected vs 1.0% Reported CPY Y/Y: 8.2% Expected vs New 40-Year High 8.6% Reported CPI Excluding Food and Energy M/M: 0.5% Expected vs […]