https://youtu.be/vYoukQpNCJI
The annual inflation in the United States clocked in at 4.9% in April, edging down slightly from March’s figure of 5%, the Labor Statistics Bureau announced in its report on Wednesday. Month on month, Consumer Price Index (CPI) was up by 0.4%. Shelter prices were the main contributor to the monthly rise. The energy index tumbled 5.1% for the 12 months ending April, while the figure was 0.6% higher on a monthly basis. The food prices jumped 7.7% in comparison to the same timeframe in 2022, with the monthly reading remaining unchanged.
The core CPI, which excludes food and energy, advanced 5.5% in April year over year,
marking a 0.1 percentage point fall from the March reading. Compared to the month prior, the figure increased 0.4% in April.
“Today’s consumer inflation report supports the case for the Fed to seriously contemplate a pause in rate hikes in June, but does not support any near-term rate cuts,” said Scott Anderson, chief economist at Bank of the West in San Francisco. “On balance, inflation is still too high and it is not going to fall back to 2% if it increases 0.4% a month,” said Chris Low, chief economist at FHN Financial in New York. “We need to see steady increases around 0.15% to get there.”
NN: i do not see inflation dropping…… And neither does the FED.