CPI Report Puts Inflation Front And Center This Morning

February 20, 2008 at 7:30 am  ·  Category: Inflation, Market Commentary

The January CPI came in up .4% compared to last month while the core CPI was up .3% (January 2008 CPI Report) – each .1% above Wall Street expectations.  Combined with oil’s surge to $100 yesterday, this has put inflation front and center this morning.

Even a positive earnings report from Hewlett Packard (HPQ) doesn’t appear to be helping things.

Markets are down at the open (Dow: -83, S&P: -10, Nasdaq: -10).

UPDATE (Wed 2/20, 8:05am PST): See also Bob Pisani “Inflation Is Back As An Issue” (Wed 2/20, 9:32am EST).

Posted by Greg Feirman  ·  Trackback URL  ·  Link