Keep the faith on inflation but prepare to be disappointed

FILE PHOTO: A shopper pulls a shopping basket at a Kohl’s department store in the Brooklyn borough of New York, U.S., January 25, 2022. REUTERS/Brendan McDermid/File Photo

THERE were a couple of ways that the latest inflation data could have gone, and last Friday’s result was clearly the most positive of the not-great potential outcomes.

Following a hot quarterly inflation print last Thursday, investors learned from the monthly numbers that most of the heat came at the start of the year.