A recent analysis reveals that 72% of U.S. Consumer Price Index (CPI) components are currently exceeding the Federal Reserve's 2% inflation target, marking the highest level in three years. This increase, highlighted by The Kobeissi Letter, underscores rising inflation risks. Apollo Global Management's chief economist noted that this figure has climbed from 55% in 2024 and averaged 57% in 2018 and 2019. The report attributes the inflationary pressures partly to trade and tariff policies implemented during Trump's administration, sparking concerns about a potential stagflation scenario.