The equity markets saw record highs this week following some optimistic news on the inflation front. Wednesday’s release of the April Consumer Price Index (CPI) came in below expectations with a monthly increase of 0.3%. Core CPI, which excludes the volatile food and energy sectors, was reported in line with analyst estimates and fell to its lowest reading in 3 years. While the data is still not at the Federal Reserve’s annualized target level of 2.0%, the reading was the first in four months that did not exceed economists’ estimates.