Next week the Federal Reserve will begin its sixth Federal Open Market Committee (FOMC) meeting this year. The Federal Reserve convenes and holds its FOMC meetings eight times per calendar year.

Like a one-two punch, yesterday’s CPI report combined with today’s PPI report suggests that inflation is and will remain persistent. Specifically rises in wholesale prices will be passed down the consumer chain.

The CPI (Consumer Price Index) was released this morning, and predictions that headline inflation had risen by 0.6% last month forecasted by economists polled at the Wall Street Journal were spot on.