🛜 According to Bank of America, the Consumer Price Index (CPI) inflation rate in the United States is expected to reach 4.6% over the next six months.
🛜 The average CPI inflation rate has been +0.4% month-over-month over the past three months.
🛜 If this trend continues, it means that the annual inflation rate will reach 4.6% by July, the highest level since April 2023.
🛜 This would be more than double the Federal Reserve's inflation target of 2%.
🛜 Even if the monthly inflation rate drops to 0.3%, the annual inflation rate would still rise to 3.8%.
Inflation is accelerating.