The Peter Ships Show

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This morning we got the highly anticipated release of the CPI data for March.

And the reason there was so much anticipation around this release is because March is where

we initially felt the impact of the Russian invasion of the Ukraine and the sanctions imposed

by the US and European allies against Russia as a result of that invasion.

Obviously, there was an impact immediately in energy prices and food prices and the

March CPI number is the first month where that impact is going to be felt.

And so everybody is waiting to see this number.

The consensus was for a 1.1% jump in the March headline CPI.

That's a big number, but there were some people who thought it might even surprise to

the upside.

And that's why when we got the number at 1.2%, even though it was hotter than expected,

it wasn't blazing hot.

I think people had expected a number much hotter than that.

And when it comes to the year over year number, that also was slightly above estimates.

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