CPI March Badness

The news is abuzz with the latest CPI release, wherein the month-over-month inflation was 0.4%, compared to the expectation of 0.3%.

As usual, I think year-over-year and month-over-month stats are not very illuminating, so here’s this month’s CPI chart (downloaded, also as usual, from the St. Louis Fed):

Can’t wait for Paul Krugman to lecture us again about its our perception of inflation that’s the real problem. Couldn’t possibly be the nasty post-Trump slope of the CPI.

A slope which doesn’t suggest that inflation is under control.