What Six Months of Fuel Pressure Does to U.S. Core CPI

Downstream fuel prices are running about 51% above their prior two-year average because conflict is keeping crude from reaching U.S. refiners. David Scutt, StoneX Media Senior Market Analyst, explains how gasoline and diesel pressure feeds into U.S. core inflation and what it asks of the Federal Reserve rate path. Gasoline and diesel have pulled far away from West Texas Intermediate crude, a refining access problem rather than a barrel shortage. With core CPI momentum coming off a very low base and soft monthly comparisons rolling out of the annual calculation, the bar for further disinflation is rising. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_david_scutt&utm_content=share 00:00 - Fuel Costs Outrun Crude Oil 00:28 - Diesel Runs 62% Above Norm 00:58 - When Margins Stop Absorbing 01:49 - Four Episodes, One Pattern 02:17 - Disinflation Off a Low Base 02:49 - Where Tightening Fails to Bite Like and subscribe for more financial market insights. #CrudeOil #Inflation #StoneX #DavidScutt #FederalReserve --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social