![]() ![]() That large category is expected to “turn over” later this year and more closely reflect the declines seen in the rental market, economists say. ![]() Shelter costs, which account for a good chunk of CPI - about one-third of the main index and 40% of the core - picked up as well, rising 0.4% for the month, which is the smallest monthly increase since January 2022. ![]() Gas prices, which typically rise in April because of higher travel activity, rose in April after OPEC+ announced a surprise production cut. “It’s sticky and bumpy, but make no mistake, inflation is cooling,” Gregory Daco, chief economist at EY, said in a statement.Īpril’s data showed that the biggest month-on-month gains seen in the major categories came from used cars and trucks (up 4.4% from March but down 6.6% year-over-year) and gasoline (up 3% from March but down 12.2% annually). On a monthly basis, both the headline and core indexes recorded increases of 0.4%, matching forecasts from economists, some of whom anticipated higher fuel and used car prices to provide some upward pressure. It’s the 10th consecutive month that the headline CPI rate has slowed, and it’s at its lowest rate since April 2021 - when this bout of painfully high inflation started to spike.Įxcluding food and energy costs, which tend to have more volatility, core CPI was unchanged at 5.5% for the 12 months ended in April. It was below economists’ expectations for the number to remain unchanged. The CPI climbed by 4.9% for the 12 months ended in April, according to the Bureau of Labor Statistics, representing a slightly slower pace of increase than the 5% in March. It’s been a two-year slog of enduring painfully high prices, but the light at the end of the tunnel just got slightly brighter for consumers.Īnnual inflation continued its slow-but-steady deceleration in April, according to the latest Consumer Price Index released Wednesday. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |