10 April Peter Cardillo, chief market economist at Spartan Capital Securities in New York, commented on the US March consumer price index report (CPI): "The key point is core inflation, which is actually slightly below expectations, while overall inflation is higher than we anticipated, especially on an annual basis. Therefore, although these figures do not currently cause significant concern, they do not yet reflect the full impact of the energy crisis. Looking ahead, further inflation increases are clearly expected, but the key signal that core inflation is below expectations indicates that energy prices will eventually be gradually transmitted throughout the system and will manifest later. However, at this moment, inflation remains high and persistent." (Jinshi)