This Week in Business
A look at some of the key business events and economic indicators upcoming this week:
TRACKING INFLATION
The Labor Department delivers its latest monthly index of inflation at the consumer level Wednesday.
Analysts expect consumer prices to have increased by 0.4% from February to March, matching the increase from January to February. The report is closely monitored by the Federal Reserve, which has ratcheted up its main borrowing rate nine times since March of last year to try to tame decades-high inflation.
Consumer price index, monthly percent change, seasonally adjusted:
Oct.: 0.5
Nov.: 0.2
Dec.: 0.1
Jan.: 0.5
Feb.: 0.4
March (est.): 0.4
Source: FactSet
WHOLESALE PRICES
The Labor Department delivers its monthly index of U.S. wholesale prices Friday.
Economists expect the producer price index, which measures price pressures before they reach consumers, to have risen 0.2% in March from the previous month. Wholesale price increases in the United States slowed in February as food and energy costs declined, but not enough to stop the Federal Reserve from raising its benchmark lending rate another 25 basis points.
Producer price index, monthly percent change, seasonally adjusted:
Oct.: 0.3
Nov.: 0.3
Dec.: -0.2
Jan.: 0.3
Feb.: -0.1
March (est.): 0.2
Source: FactSet
BANK EARNINGS
Wells Fargo, Citigroup and JPMorgan all release quarterly financial results on Friday.
Banks had been enjoying a strong start to 2023, until the collapse of Silicon Valley Bank and Signature Bank in early March caused a panic in the sector. Wells, Citi and JPMorgan all beat Wall Street profit forecasts when they announced their most recent earnings in January.
