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Commodity prices could drive U.S. inflation above 7 percent annualized in Q2, Charlie Bilello warns
Charlie Bilello, chief market strategist at Creative Planning, warns that surging commodity prices could raise the consumer price index (CPI) above 4 percent year over year in May.
He also cautions that U.S. inflation may remain above 7 percent annualized for the second quarter if the ongoing war does not end soon.
Bilello recently reported that U.S. gas prices climbed to $4.54 per gallon, the highest level since July 2022 after a 52% surge in ten weeks. Earlier, he noted the U.S. unemployment rate remained steady at 4.3 percent in April with 115,000 jobs added. These data points contribute to ongoing discussions of inflation risks.
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