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CPI moves sideways in April

Published on 16 Comments on CPI moves sideways in April

Here are the latest CPI inflation rates. As usual, they are month-over-month, recalculated to an annual rate:

The headline rate was up in April, but basically still declining on a trendline basis. Core inflation is worse: It's at 5.0% and has been flat for the past six months.

Overall, it was a so-so inflation report. Stubborn core inflation continues to be the big problem.

16 thoughts on “CPI moves sideways in April”

  2. golack

    I was expecting employment to start falling by now...but it's still holding strong.

    As for Fed rates curbing inflation--well, bird flu seems to be contained now, so prices of eggs has dropped. Most supply chain bottle necks have lessened, and that helps. There are still some things from the pandemic that still have to shake out--not to mention other world events....

  3. jdubs

    Current inflation continues to be caused almost entirely by housing related costs.
    These current month housing related costs are actually costs from 6+ months ago and nearly useless when considering current month changes.
    These current month housing related costs are higher largely due to Fed imposed higher interest rates and their impact on new mortgages and rents.

    To sum up, inflation is down, the inflation problem has been solved, there is no need to slow the economy and throw people out of work in order to push actual inflation even lower.

    But the Fed knows this. They are still trying to solve the other problem that they have identified, increasing wages/compensation for low and moderate wage people. This has always been the real problem for the Fed board of governors.

    1. middleoftheroaddem

      "To sum up, inflation is down, the inflation problem has been solved, there is no need to slow the economy and throw people out of work in order to push actual inflation even lower."

      I do not believe the Fed agrees with your analysis....

      1. jdubs

        plenty of self identifying Democrats have night sweats about working class people getting too comfortable.

        Many others are happy to prioritize other objectives first.

        I wouldnt call them traitors, but it is important for them to speak more clearly about their priorities and the tradeoffs that they are happy to make.

        Labeling yourself as a D doesnt mean much to me by itself. It shouldn't be for you either.

      2. KenSchulz

        I think there are plenty of upper-middle and upper-class Democrats who don’t see income/wealth inequality as a problem of wage suppression, because they think of themselves as middle-class, and everyone they know is doing OK. If they think about inequality at all, they probably see it as a problem of poverty, and prefer government solutions like a guaranteed basic income. The data, however, shows that a majority of working-age, non-disabled people in poverty have one or more jobs. And that is why we need a living-wage law, before we implement GBI.

  4. Eve

    Google paid 99 dollars an hour on the internet. Everything I did was basic Οnline w0rk from comfort at hΟme for 5-7 hours per day that I g0t from this office I f0und over the web and they paid me 100 dollars each hour. For more details visit this article... https://createmaxwealth.blogspot.com

  5. cld

    We need to make this happen!

    Russia to Build ‘Migrant Village’ for Conservative American Expats,

    https://www.themoscowtimes.com/2023/05/11/russia-to-build-migrant-village-for-conservative-american-expats-a81101

    Russian authorities will launch construction of a village outside Moscow for conservative-minded Americans and Canadians next year, the state-run RIA Novosti news agency reported Thursday.

    Russia has for years positioned itself as a bastion of "traditional" values in contrast with Western liberalism as its relations with the West have deteriorated over its 2014 annexation of Crimea and 2022 full-scale invasion of Ukraine.

    Timur Beslangurov, a migration lawyer at Moscow’s VISTA Foreign Business Support, claimed that “around 200 families” wish to emigrate to Russia for “ideological reasons.”

    “The reason is propaganda of radical values: Today they have 70 genders, and who knows what will come next,” RIA Novosti quoted Beslangurov as saying, echoing President Vladimir Putin’s frequently deployed grievances against Western countries’ comparative gender freedom.

    “Many normal people emigrate and are considering Russia, but they’re faced with huge bureaucratic problems with Russia’s migration law,” he said.

    He said the Moscow region administration has greenlit the construction of the expat village and that it will be financed by the relocating families.

    The lawyer further claimed without offering evidence that “tens of thousands” of foreigners without Russian roots would like to move to Russia for similar ideological reasons.
    . . . .

  6. ProbStat

    PPI reported this morning was only up 0.3% month-over-month. This is at least a signal of mild slowing going on, and I think the equivalent 3.6% annual rate is starting to give the 5.00-5.25% federal funds rate target some bite.

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