CPI

CONSUMER PRICES RISE BY THE MOST SINCE 1981. U.S. CONSUMER PRICE INDEX, YEAR-OVER-YEAR CHANGE SINCE 1970.

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The yearly rate of U.S. inflation fell to 8.3% in April to mark the first decline in eight months, but the upward pressure on prices is unlikely to ease...

The cost of clothing fell for the first time in seven months and used-vehicle prices also declined. Looking ahead: “The slowdown in CPI was largely due to March’s decline in gasoline prices after April’s surge. The rate of inflation over the past year slowed to 8.3% from 8.5% — the first time it’s declined since last summer. Shelter costs account for a third or more of a typical household budget. And lockdowns in China could further disrupt the shipment of critical supplies that American companies need to produce their goods and services. Consumers got a temporary break from higher gas prices in April. They fell 6.1% last month. Oil prices surged after the Russian invasion of Ukraine and then leveled off in April. Food prices jumped almost 1% last month. Prices are climbing again. The cost of rent and housing both rose sharply again in April and helped explain the big increase in the core rate of inflation. It’s already raised rates twice this year. The increase in the core rate over the past year slowed to 6.2% from from a 40-year high of 6.5% in March.

The consumer price index increased 8.3% annually, down from 8.5% in March, as a drop in gasoline prices offset a continuing run-up in food, rent and other costs ...

Breakfast cereal prices rose 2.4% in April and are up 12.1% from a year ago, and bread costs increased 2% and 9.1% yearly. Consumers’ pivot to more spending on services, along with worker shortages that propelled wages higher, drive up a different set of prices. Rent climbed 0.6% monthly and 4.8% from a year ago. Grocery costs jumped 1% monthly and 10.8% from a year ago. Much of the slowdown in the yearly measure reflected a 6.1% monthly drop in gas prices. Fish was up 0.9% and 13% annually. But the monthly rise in core prices "indicates that underlying inflation pressures are stronger than we had expected." Pork chop prices rose 1.9% monthly and 14% annually. That has begun moderating increases in the price of furniture, appliances and other items. Clothing prices fell 0.8% monthly, lowering the annual rise to 5.4%. But the 3,300-mile trip will cost an extra $550 or so in gas, so they decided to skip it this year. Regular unleaded hit a record $4.37 a gallon Tuesday, up from $4.12 a month ago, according to AAA.

Bitcoin fell below $30000 and touched its lowest level since June, while the TerraUSD stablecoin continued its downward spiral.

The U.S. consumer price index rose 0.3% last month, the smallest gain since last August, as gasoline prices eased off record highs.

That was the largest gain since June 2006 and followed a 0.4 per cent rise in March. The CPI shot up 8.5 per cent in March, the largest year-on-year gain since December 1981. Underlying inflation pressures were also fanned by airline fares, which soared a record 18.6 per cent and new motor vehicle prices accelerating 1.1 per cent. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. The drop in gasoline blunted a 0.9 per cent increase in food prices. There was some respite from high inflation, with apparel prices falling 0.8 per cent. Gasoline prices are rising again and were about $4.161 per gallon early this week after dipping below $4 in April, according to the Energy Information Administration. The U.S. central bank started raising rates in March. China’s zero tolerance COVID-19 policy is seen putting more strain on global supply chains, driving up goods prices. The war has also driven up global goods prices. Rents rose by the most since 2006. U.S. stocks were higher.

As such, all eyes on Wall Street will be tuning into today's pivotal consumer price index (CPI) report to see if there's any relief in sight. The numbers, ...

Any whiff of a 75-basis-point hike would likely send bearish investors rushing for the exits, the markets pros fear, after a week to forget. “Today’s report will help shape the early read into this, and has an ability to move markets in a large manner if diverging from consensus too far.” According to a Reuters survey of economists, the consensus estimate will show consumer prices rose 0.2% last month, which would mean inflation is running at a red-hot rate of 8.1% higher than a year ago. However, she added, “I think the pace we’re going right now seems about right to me.” Last month, the CPI print showed inflation for consumer products hit a 41-year-high, growing at an annual rate of 8.5%. Which brings us back to today’s CPI data.

The Consumer Price Index was up 8.3% in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday, slightly higher than economists had ...

"Inflation remains widespread, making it all the more difficult to curtail," wrote Wells Fargo economists Sarah House and Michael Pugliese in a note to clients. Food prices rose 0.9% last month and 9.4% year over year, the biggest jump since April 1981. That means it's uncertain how much the pace of inflation can slow down until these things are resolved. But there are still a lot of factors that will keep prices elevated over the summer. Businesses have been building up their inventories, which helps core inflation on the goods side, while prices in the services sector are soaring as Americans return to traveling and other leisure activities. Year-over-year, housing costs are up 5.1%.

There's a lot been said about the US potentially hitting “peak inflation,” but it not all about today's CPI print...

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. This material has been prepared using the thoughts and opinions of the author and these may change. All told, I don’t expect to see a major reversal in the trends today. It formed a small doji candle there, as dip buyers attempted to defend the psychologically-important 1.05 handle but lacked conviction to cause a reversal in the bear trend. If they manage to push rates back above the March 2020 low, this would be a welcome sign for them, although they will then face further resistance around 1.0755 to 1.0805 range, an area which was previously support. A weaker CPI print may lead to some strength in downbeat tech stocks and gold, and weigh on the dollar. Only a decisive break above 1.0805 would be deemed a bullish technical breakthrough, for that will completely undo the most recent breakdown. - Third, let’s not forget that there is a risk that instead of weakening price pressures, CPI will come in hotter. Above, I wrote ‘slightly’ bullish on the dollar because much of the Fed’s future tightening is already priced in. If anything, we may see inflation remaining elevated for a long period of time instead. Well, it obviously depends on the data, doesn’t it?

The Bureau of Labor Statistics released the April Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at ...

The energy index rose 30.3 percent over the last year, and the food index increased 9.4 percent, the largest 12-month increase since the period ending April 1981. The all items less food and energy index rose 6.2 percent over the last 12 months. The all items index increased 8.3 percent for the 12 months ending April, a smaller increase than the 8.5-percent figure for the period ending in March. The food index rose 0.9 percent over the month as the food at home index rose 1.0 percent. Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment. Increases in the indexes for shelter, food, airline fares, and new vehicles were the largest contributors to the seasonally adjusted all items increase.