Stagflation fears just hit Wall Street. Now for the next crucial report on prices

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. The Federal Reserve’s favorite inflation reading is due Friday morning. For Wall Street, the stakes are high. The Personal Consumption Expenditures price index is expected to rise 2.6% for the 12 months ended in March, according to FactSet estimates. The core PCE …