Because of time zone challenges and my slothful ways, I don't normally post about new inflation figures until well after the rest of the world. My slothful ways aren't likely to change anytime soon, but today you all get the benefit of my being six time zones ahead of the BLS. So here are April's inflation figures bright and early in the morning.
It was all good news today: Inflation continued to slow down in April from its recent surge. On an annualized basis headline CPI inflation came in at 3.8%, down from 4.6% last month and 5.4% in February. Core CPI came down to 3.6%:
Groceries showed considerable deflation in April. The cost of food at home decreased 2.4% on an annualized basis.
On a conventional year-over-year basis, headline CPI was 3.4% and core CPI was 3.6%.