Bank of America April CPI 0.5% MoM

Bank of America expects US CPI to rise 0.5% MoM in April, driven by a 4.3% energy price jump from Iran war.
Core CPI forecast to increase 0.3% MoM, 2.7% YoY, with rent data adjustments from last year’s government shutdown affecting readings.
Core services expected to rise to 0.39% MoM in April, while core goods stay flat with expected apparel and medical goods declines.
Bank warns food inflation could lift headline CPI, and apparel price decline may not materialize, posing upside risk to core inflation.