Year on year consumer price inflation declined for the third straight month, falling to 2.3% in the April Consumer Price Index Summary
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in April, after falling 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.
Core consumer price inflation remained largely unchanged, posting an extremely marginal decline from 2.81% to 2.78%.
Month on month, inflation rose after March’s deflation surprise, landing approximately where the February print was.
These numbers are largely in line with Wall Street predictions and the Cleveland Fed’s nowcast.
Energy prices trended slightly upward for the month, which is surprising, given the major drop in oil prices during the month.
With even retail gasoline prices posting a decline in April, that energy price deflation did not continue seems counterintuitive.
It should be noted, however, that year on year energy prices are still down 3.7%.
Despite what corporate media has been projecting, the Liberation Day tariffs have yet to inflict even a little inflation on the American consumer. Broadly, the CPI report shows that inflation is still coming down in this country.
Are you seeing inflation easing off where you are? Leave a comment below or drop one in chat and let me know!
Here everything is about the same. Eggs did get cheaper, and organic eggs are back at Sams Club.
However, gas did go up about 10 cents per gallon.
You're right though, we haven't seen the effects of the Liberation Day Tariffs yet. Everything is ordered, produced, and shipped months ahead of time.
That's how Christmas keeps showing up in stores earlier and earlier each year. They do the same thing with all seasons really, it's just less noticeable.
Those graphs look promising....