APRIL CPI SOARS 0.7%, MOST SINCE GULF WAR. As Doug can remind us, though, Henry's exuberant expectation may be premature. But the question remains: how are the authorities going to squeek through this one? If the surge in the U.S. CPI can be explained as an anomaly that takes a lot of heat off. Otherwise, the expectation of higher interest rates looms. An interesting side note: APRIL CPI STILL SHOWS NO SIGNS OF WAGE-PUSH INFLATION. regards, Tom Walker http://www.vcn.bc.ca/timework/covenant.htm
