Core Inflation comes in higher than expected

Was someone deceiving someone else? I posted early how Russia and Iran are cutting back production in an effort to affect our gas prices and thus inflation. Thats been all over the news.

From your link:

Energy prices fed much of gain, rising 5.6% on the month, an increase that included a 10.6% surge in gasoline.

That might have something to do with it. Obviously it isn't an easy fix.

 

That's just propaganda...oh wait.

Energy prices (rose) 5.6% on the month, (with) a 10.6% surge in gasoline.
The rent of primary residence index rose 0.5% and increased 7.8% from a year ago.
Owners equivalent rent, a key measure that gauges what homeowners believe they
could get in rent, increased 0.4% and 7.3%, respectively.

 

However, excluding volatile food and energy, the core CPI increased 0.3% and 4.3%, respectively, against estimates for 0.2% and 4.3%. Federal Reserve officials focus more on core as it provides a better indication of where inflation is heading over the long term.

That's awesome news thanks for the article OP. Looks like what the Fed is doing is working