CPI Preview: Here Comes The Energy Surge

It may seem a bit odd that one day after we got the latest print of the Fed's preferred inflation indicator, the core PCE, we are about to get the latest CPI report: traditionally the order is inverted, with CPI coming about a week before the PCE. Only this time, the CPI is still suffering from the aftereffects of last year's record government shutdown which delayed most BLS-sourced reports, and while today's PCE report covered February, or the month right before energy inflation spiked due to the war in Iran (while core inflation remained flat or even dropped), Friday's CPI will show the painful reality of living with $4+ gasoline. 

What should one expect?