PPI was a bit hot this week too, so producers are seeing it. I’m thinking it will show up in consumer numbers by summer. Of course regular people will notice the inflation before the official numbers are out. I think there is a real chance we experience some 70’s style stagflation under Biden.
You are spot on about the CPI in late spring early summer.
It will be interesting to see what happens to the Producer Price Index over the next six months. I would not be surprised to see inflation in the 3 to 5% range by next year.
Pity us poor savers earning 2% on our savings accounts and paying taxes on the interest income to boot.