Headline CPI Forecast
The Graph of the Week shows the headline CPI forecast from the May NABE Outlook. From the survey:
The forecast of 2007 “headline” inflation increased dramatically. The consumer price index is now expected to rise by 2.9% for 2007. Rising energy prices appear to be among the culprits: the panel anticipates that the cost of a gallon of regular gasoline will average $3.00 at the end of June versus $2.87 a year ago. The panel does expect gas prices to ease to $2.75 a gallon by year-end.
NABE members can read the full NABE Outlook here. A summary is available for the public.