April's Consumer Price Index (CPI) data is slated for release on Wednesday, May 15, offering investors a glimpse into the progress — if any, as of late — in the ongoing battle against inflation. Analysts are projecting a 0.3% month-over-month increase in core inflation — which excludes food and energy prices — coupled with a rise of 3.6% year-over-year.

Yahoo Finance Senior Reporter Josh Schaefer sheds light on the potential implications of the CPI report, exploring how the upcoming figures could shape market sentiment (^DJI, ^IXIC, ^GSPC) and the Federal Reserve's outlook on potential interest rate cuts.

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This post was written by Angel Smith