U.S Consumer Price Index blows out at 8.3%. Estimates were at a declining peak of 8.1%. Oil, gas, food and electricity prices are now parabolic in a correlated incline. Central Bank reluctance to trigger above 2% rate increases maybe about to change. We could witness a dramatic lifting of rates throughout 2022.

U.S core inflation went way over  the estimated of a 8.1% peak in consumer inflation prices, coming in at 8.3%.  Evident of Wall Street analysts somewhat downplaying inflation as an issue, which makes no sense when you see that the oil price is bid over $100 and interest rates are below the 8% seen in 1975 when oil was spiking, as an example of inflation (real adjusted) was within par of the inflation of today.  Note Chart 1 (core inflation since 1969).   The current 1.00% interest rate on the U.S. dollar is token in driving down the inflation rate, when oil remains well supported as a hedge against inflation/supply shortages and as the war in Ukraine rages on.

Chart 2, shows how import the oil price is as a driving force on food costs and natural gas prices, which in turn, more so with natural gas demand. pushes up electricity prices.  The white line is food inflation, orange line is nat gas, blue line is the oil price.  Note the arrow between the February 2022 oil price peak at $115 and the April 2022 Food and Gas prices rising, the lag is at a 3mth interval.  With oil now picking up bids (April contracts) , this will continue to keep Food and Gas costs high.  Now, note below the electricity costs, separate pane, also spiking, to which oil does no contribute to per se, but nat Gas does at 38.3% in producing electricity for America markets.  

Chart 3, is self explanatory.