According to Jinshi, Art Hogan, chief market strategist at B. Riley Financial, said that the inflation trend so far this year has been more stubborn than expected. The two recent CPI reports show that things seem to be moving in the right direction. The market has digested the risk that CPI may be hotter than expected, so the stock market has received a positive reaction after the data was released. Today's report helps reassure the Federal Reserve that they have made significant progress in achieving their 2% target.