As was widely expected, consumer prices remained relatively unchanged in April, rising 0.4% from the month prior to an annualized 4.9%. Core CPI, which doesn’t account for volatile components such as food and energy was up 5.5% year-over-year, in line with forecasts and registering a sticky decline from March’s reading of 5.6%.
Glancing under the hood, major components that have been overtaking headlines including the food and energy indices are finally showing signs of moderating, with a drop in gasoline prices leading the decline. Shelter inflation, meanwhile, remains stubbornly high, rising another 0.4% from March to 8.1% year-over-year.
Information for this briefing was found via the BLS. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
Choke Points: The War on Inflation is Getting Pretty Selective
Inflation is too high, so central banks are raising interest rates to try and bring...