Wells Fargo: US April CPI Increase May Accelerate

Tariffs are prompting market institutions to prepare for higher inflation. Economists at Wells Fargo wrote ahead of next week's US CPI report that consumer prices in April may accelerate. They expect the CPI to rise by 0.2% in April after an unexpected 0.1% decline in March. Economists say this would bring the annual CPI rate down to a four-year low of 2.3%. They expect the core CPI annual rate to remain unchanged at 2.8%. They stated that with tariffs already in place, "we believe that higher import costs will affect consumer prices, it's just a matter of time."