Inflated Week in Review
High prices, bad sentiment, & more
The good news: egg prices fell for the 12th straight month in March and are down to the lowest level since early 2022.
The bad news: your car can’t run on eggs, and the gas component of the consumer price index posted its largest monthly increase since at least the start of the data series in 1967.
Monday
ISM Services PMI
The U.S. service sector expanded for the 21st straight month in March, according to this survey of industry managers. The bad news is that prices increased sharply, providing yet another sign that inflation is picking up.
Oil Stuff
Oil prices fell sharply following reports of a “ceasefire” and “reopening of the Strait of Hormuz.” We use quotes there because at least two sides of the conflict have yet to cease firing and, as of Friday, the number of ships passing through the Strait has actually decreased. The best thing we can say about the situation is that no civilizations have died.
Gas prices keep rising despite the two-week pause, with the average up to $4.25/gallon during the week ending April 6th. Diesel prices have risen even faster, up to $5.64/gallon, more than $2.00/gallon more expensive than at the start of the year.
Tuesday
Durable Goods Orders
New orders for durable goods (things that last at least three years) fell for the third straight month, but that’s mostly due to the volatile transportation equipment category (think airplanes). Even without excluding transportation, though, orders were 8.1% higher during the first two months of 2026 than during the same stretch of 2025. Not bad!
TSA Checkpoint Travel Numbers
The rising cost of jet fuel hasn’t hurt U.S. air travel. Not yet, anyway. The number of people passing through TSA security remains up about 2.0% on a year-ago basis over the past week.
