Shoppers inside a grocery store in San Francisco, California, U.S., on Monday, May 2, 2022.
David Paul Morris | Bloomberg | Getty Images
April’s consumer price index report is expected to show inflation has already reached a peak — a development that some investors say could temporarily soothe markets.
But economists say, even with a reprieve in headline inflation, core inflation could gain on a monthly basis and stay elevated for months to come. Core inflation excludes food and energy costs.
The CPI report is expected to show headline inflation rose 0.2% in April, or 8.1% year-over-year, according to Dow Jones. That compares with a whopping 1.2% increase in March, or an 8.5% gain…