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Good morning. Today is Tuesday, April 12th, and I'm your host, Rina Sherbal. Our top stories today.

CPI expected to be hot, lumber slumps, and recreational cannabis sales set for New Jersey.

Leading today's news, inflation watchers will be eyeing the Labor Department's Consumer Price Index

on Tuesday morning, which is set for release at 8.30 a.m. Eastern.

The figures expected to come in at 8.4% year over year for

March a big number and the White House has already warned that the C. P.

headline figure which includes volatile food and energy will be extraordinarily elevated.

America hasn't witnessed inflation levels above 8% since 1981

and the number would mark the 13th month

it has hit above the Fed's long-standing targeted range of 2%.

Mark Zandy, chief economist at Moody's analytics, said,

it's going to be ugly. It's a perfect storm.

Russian invasion, surging oil prices, China locking down, further

disruptions to supply chains, wage growth accelerating, unfilled positions, just a

kind of scrambled mess leading to painfully high inflation.

In terms of how traders will react to the report, some feel the figure is priced in

though others say it can confirm a worrisome underlying trend.

Recently there has been a pickup of services

inflation which will be harder to reverse than the pressure seen in the good

sector that were largely the result of supply and demand mismatches. That is

...