The numbers are out, our March release of consumer price index expected up to 10 to 1%

is up one tenth of 1%.

Inflation is up 5% from a year ago, new data out this morning shows, but it has slowed

to its lowest level in two years.

We have a good understanding of what causes inflation.

Too much money chasing too few goods is the Econ 101 explanation, and of course when supply

chains break down as they did during the pandemic, that'll contribute too.

But you may have felt recently that things are more expensive than they should be.

That the crisis created by the PANY is coming to a close, but prices are still very high.

Two Econ writers recently dug into the question of whether regular old inflation is the reason

for all of the higher prices or whether something else is going on.

There seems to be a reluctance on the part of businesses to start to bring prices down.

Coming up on today's explained, the hidden drivers of inflation.

My name is Tracy Alloy.

I am the co-host of the All Thoughts podcast over at Bloomberg, where myself and my co-host

Joe Weisenthal talk about the most interesting stories in finance, markets, and the economy.

You recently identified a phenomenon, a road about a phenomenon that you call ex-cuse

inflation.

It does not roll off the tongue, but it's an interesting idea.

Tell me what it means.

I think a lot of people at this point have heard about this idea that companies, maybe

they're taking advantage of the current environment in order to raise prices and really gouging

...