With the continued delay in the CPI and PCE inflation data, this week’s headlines will focus on unemployment figures. Job reports show an increase of 178,000 workers, though this growth is unlikely to persist given the current state of the economy. Unemployment data has also shown a positive release, reflecting a slight decrease from the previous report.

With the current state of affairs, it is not surprising that a majority of the releases scheduled for this week have been delayed until next week. The only notable report set to be released is the consumer sentiment report, which has been showing month-to-month declines. This has led to a very light week, with a heavy slate of inflation data scheduled for release next week. The PCE Index and CPI are both scheduled for next week.

While delayed, the Producer Price Index has indicated that the war in Iran has pushed producer prices to new highs, as oil prices have surged amid the conflict, coming in at more than double the expected value. It is unlikely we will see prices recede, even if there is a quick resolution. There will be long-term impacts that continue to keep gas prices elevated until then.

With the release of the delayed PCE and CPI inflation data reports, the Federal Reserve has chosen to stick to its resolve and maintain the current interest rates. It remains to be seen whether this will result in maintaining them or even increasing rates, as reports have shown that inflation is remaining sticky for the average consumer. This has been exacerbated by the ongoing conflicts with Iran, which have pushed gasoline prices higher.