Here in the Midwest, haven't noticed much change . Low gas prices are around $3.37 p/gal at the moment for the ethanol added blend. Food price seem unchanged and maybe slightly higher, eggs have come down some Now only $4.39 for a dozen of large ( "what a deal" ).
Beef has gotten outrageous - Ground Beef 3 Lbs Or More $4.99|lb, Fresh Ground Beef Sirloin $6.99|lb, Boneless Chuck Roast $8.49|lb and if you want high quality cuts of steak, forget it!! Beef T Bone Steak $18.99|lb and Beef Boneless Ribeye Steak $22.99|lb. So much for steaks on the grill!!!
Some pork is cheaper than beef, but even Brats are $4.99|lb. and Oscar Mayer Bacon, Original 16 oz Sale price:$7.99 and Oscar Mayer Wieners, Classic 16 oz Sale price:$3.49
All these prices are taken from a local chain's on line prices. Won't name them as this is not to pick on any one grocery food chain over another. Just using them to illustrate average prices.
Looks like minor fluctuations, at best. So, Trump is talking about bringing drug prices down, and giving tax cuts to most Americans - but these will take months to enact. Peter, do you see an obvious EO Trump could do very soon to keep scoring major points with consumers?
The changes in consumer price inflation are indeed minor fluctuations.
That is actually the most positive aspect of this report, or of any inflation report. Large shifts in consumer price inflation are also known as "price shocks". Whether they are up or down, price shocks are rarely a good thing. That this report shows incremental progress in year on year inflation is generally going to be preferable.
Tax cuts are still problematic, as President Trump's "Big Beautiful Bill" is bolloxed up in Congress, where all good news goes to die.
Whether the Executive Order on drug prices can produce meaningful shifts is even more problematic, and even then pharmaceuticals are among the smaller contributors to overall consumer price inflation. Energy and Food prices are the most significant and most volatile, and within core inflation items like housing have broader impact.
The single best thing at this point President Trump can do on consumer prices is to focus on energy prices coupled with expanded energy production. Expanded production will bring improvements on the jobs front, and that will help move real wages up. Encouraging and championing real jobs growth and putting an end the jobs recession will boost real wages, and that will have the same immediate impact on consumers as consumer price declines but be more longer lasting.
President Trump needs to stay focused on Agenda 47. If he delivers on that, the economic numbers will be where everyone wants them, including the inflation print.
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.
The inflation trends are going to give Jay Powell and the Federal Reserve indigestion, because the downward trend undercuts the Fed's arguments for not following up on the interest rate cuts President Trump wants and which Wall Street anticipates.
I do not see the Fed opting for a rate cut in June as result of the April inflation Print.
The Federal Reserve prefers to look at the PCE Price Index which comes out later. If the CPI print and the PCEPI print track along similarly disinflationary lines, that adds pressure for a rate cut.
However, Powell has been stubborn about rate cuts even as he's been indecisive on the topic. It is going to take more than a good April CPI report to produce rate cuts in June.
Here in the Midwest, haven't noticed much change . Low gas prices are around $3.37 p/gal at the moment for the ethanol added blend. Food price seem unchanged and maybe slightly higher, eggs have come down some Now only $4.39 for a dozen of large ( "what a deal" ).
Beef has gotten outrageous - Ground Beef 3 Lbs Or More $4.99|lb, Fresh Ground Beef Sirloin $6.99|lb, Boneless Chuck Roast $8.49|lb and if you want high quality cuts of steak, forget it!! Beef T Bone Steak $18.99|lb and Beef Boneless Ribeye Steak $22.99|lb. So much for steaks on the grill!!!
Some pork is cheaper than beef, but even Brats are $4.99|lb. and Oscar Mayer Bacon, Original 16 oz Sale price:$7.99 and Oscar Mayer Wieners, Classic 16 oz Sale price:$3.49
All these prices are taken from a local chain's on line prices. Won't name them as this is not to pick on any one grocery food chain over another. Just using them to illustrate average prices.
Looks like minor fluctuations, at best. So, Trump is talking about bringing drug prices down, and giving tax cuts to most Americans - but these will take months to enact. Peter, do you see an obvious EO Trump could do very soon to keep scoring major points with consumers?
The changes in consumer price inflation are indeed minor fluctuations.
That is actually the most positive aspect of this report, or of any inflation report. Large shifts in consumer price inflation are also known as "price shocks". Whether they are up or down, price shocks are rarely a good thing. That this report shows incremental progress in year on year inflation is generally going to be preferable.
Tax cuts are still problematic, as President Trump's "Big Beautiful Bill" is bolloxed up in Congress, where all good news goes to die.
Whether the Executive Order on drug prices can produce meaningful shifts is even more problematic, and even then pharmaceuticals are among the smaller contributors to overall consumer price inflation. Energy and Food prices are the most significant and most volatile, and within core inflation items like housing have broader impact.
The single best thing at this point President Trump can do on consumer prices is to focus on energy prices coupled with expanded energy production. Expanded production will bring improvements on the jobs front, and that will help move real wages up. Encouraging and championing real jobs growth and putting an end the jobs recession will boost real wages, and that will have the same immediate impact on consumers as consumer price declines but be more longer lasting.
President Trump needs to stay focused on Agenda 47. If he delivers on that, the economic numbers will be where everyone wants them, including the inflation print.
Your analysis and conclusions are always SO smart, Peter. The top quality of your responses are what compel me to ask!
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....
The CPI trends are promising.
The inflation trends are going to give Jay Powell and the Federal Reserve indigestion, because the downward trend undercuts the Fed's arguments for not following up on the interest rate cuts President Trump wants and which Wall Street anticipates.
Do you forsee rate cuts at the next meet?
I do not see the Fed opting for a rate cut in June as result of the April inflation Print.
The Federal Reserve prefers to look at the PCE Price Index which comes out later. If the CPI print and the PCEPI print track along similarly disinflationary lines, that adds pressure for a rate cut.
However, Powell has been stubborn about rate cuts even as he's been indecisive on the topic. It is going to take more than a good April CPI report to produce rate cuts in June.