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  • The shocks to energy and fertilizer markets mean that food prices will climb through spring and summer…
  • …But even a 20% rise in wholesale food prices would only add around 0.1pp to headline CPI inflation.
  • The ongoing surge in gas prices is a far bigger and more immediate worry for consumers and the Fed.

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Keywords for: 7 April 2026 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence