CPI

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

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Full coverage of the stock market as investors digest the inflation report, which showed an easing in the consumer price index.

Gold is up 1.4% this year as investors have sought a measure of security in the precious metal amid concerns about geopolitics and economic strength world-wide. The tech-focused Nasdaq composite was down about 1%. On Monday, the U.S. Department of Agriculture said 22% of corn was planted, compared with 50% for the previous-five-year average. On Wednesday, the notes at auction sold at a 2.943% yield. After a bumping trading day, the Dow, the S&P 500 and the Nasdaq all ended Wednesday in the red. Industry advisers say that the rate increase will not likely lead many students to change their educational plans. The broader pace of inflation eased slightly last month but remained historically high. The consumer-price index rose to 8.3% in April, slightly above investors' forecasts, easing for the first time in months. Yields then fell, though, as the S&P 500 shed earlier gains and slid more than 1% while investors sought out safer assets. Treasury yields, which rise when bond prices fall, jumped immediately after the Labor Department said that the consumer-price index, excluding volatile food and energy categories, climbed 0.6% in April from the previous month. Meanwhile, West Texas Intermediate, Brent's U.S. equivalent, rose $5.95 per barrel, or 6%, to $105.71. WTI is up about 41% this year. The results are in.

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.

US consumer price growth slowed sharply in April as gasoline prices eased off record highs, suggesting that inflation has probably peaked, ...

Inflation is becoming more widespread across a broad swathe of consumer spending categories, raising the risk that it could become entrenched.

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. Put simply, inflation is becoming more widespread across a broad swathe of consumer spending categories, raising the risk that it could become entrenched. That said, traders in other markets are certainly taking notice of the elevated inflation reading. The headline US CPI reading for April came in at 8.3% y/y, higher than expected and down only incrementally from last month’s 8.5% reading.

Stock futures wipe out early gains, turning lower after an eagerly awaited consumer price index reading shows U.S. inflation slowed less than expected in ...

“April’s CPI data served as a staunch reminder that the Fed has a long road ahead of it in bringing down inflation. Some positive sentiment could also be fueled by reports that COVID cases were easing in Beijing and Shanghai, driving hopes for an easing of restrictions and pressure on the global economy. Investors will be taking a close look at the entertainment giant’s streaming servicein particular, after rival Netflix NFLX,reported slumping subscriber numbers last month. However, the so-called core rate of inflation, which omits food and energy, rose by a somewhat stronger 0.6%. Wall Street had forecast a 0.4% increase. On Tuesday, the Dow industrials fell 0.3% to close at 32,160.74, a fourth straight day of losses that marked its largest four-day percentage decline since the stretch ending Oct. 29, 2020. - The Shanghai CompositeSHCOMP,rose 0.7%, while the Hang Seng Index The increase in the core rate over the past year also slowed to 6.2% from from a 40-year high of 6.5% in March. +8.94%DBRG,has offered to buy the technology group in a cash deal valued at $11 billion. Gains for stock-index futures were erased after data showed April consumer prices rose at an 8.3% annual pace in April, slowing from a more-than-40-year high of 8.6% in March. But it was above the 8.1% pace expected by economists surveyed by The Wall Street Journal and underscored that inflation continues to run at a torrid pace. - The Nasdaq CompositeCOMP,ticked up 68 points, or 0.6%, to 11,806. - The S&P 500SPX,was up 34 points, or 0.9%, at 4,035. - The Dow Jones Industrial AverageDJIA,rose 263 points or 0.8%, to 32,423, after swinging between gains and losses after the opening bell.

U.S. inflation slowed last month for the first time since November 2020, a Labor Department report Wednesday showed. The consumer price index (CPI), ...

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%.

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.

The consumer price index came off a run of 40-year highs last month as energy prices retreated from their own streak of monthly increases.

Overall consumer prices rose 0.3% last month, the Labor Department reported Wednesday, a sharp drop from March’s 1.2% increase. Despite the cool-down, signs of hot inflation abound. For the year, prices rose at an 8.3% annual pace last month, down from a four-decade high 8.5% pace in March. Economists had expected prices to rise 0.2% in April and 8.1% over the year.

Wednesday's news of the Consumer Price Index rising again in April quantified what everyone has seen for months, almost everything we buy is going up in ...

April marked the 17th consecutive monthly increase in the food index and the food at home index's 10.8 price jump is the largest year-over-year increase since November 1980. If you've been to Publix, Winn-Dixie, or your grocery store of choice, the following won't come as a surprise, but prices for food overall have risen 9.4% year-over-year as of April. But the breakdown of food prices also showed a divide between the price of food for home vs. The U.S. Federal Reserve, which has the responsibility of controlling inflation, recently increased interest rates by 0.5 basis points and is likely to do so again at the next meeting. In April, overall prices in the energy sector did drop in some areas. What is the CPI? According to the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, also referred to as inflation. For food at home, the BLS reported prices have risen 10.8% in the last year with each of the last four months showing a growth of at least 1%. At the same time, prices for food away from home have risen 7.2% in the last year, with no month dating back to October 2021 showing an increase of at least 1%. Core CPI approached levels last seen in January last month which can be seen in the following chart. Overall, gas prices have risen 43.6% in the last year with other motor fuels jumping 64.2% year-over-year in April. However, combined with the previous two months, gas prices are still significantly above where they were in January. Any slight gains for customers with prices may be wiped out in April as gasoline prices have started rising as the busy Memorial Day holiday travel season nears. Overall, the CPI for April increased 0.3%t on a seasonally adjusted basis after rising 1.2% in March. Over the last year, inflation for all items stood at 8.3%, non-seasonally adjusted. The CPI is available for major groups of consumer expenditures including: food and beverages, housing, apparel, transportation, medical care, recreation, education and communication, and other goods and services. The year-over-year number (8.3%) is what is most focused on by investors, politicians, and journalists.

The Consumer Price Index was up only 0.33% in April, or a compound annual rate of 4.1% – the slowest since last August. Yet CNBC, like others, reported that ...

For the future, we need to emphasize current data – viewing each new month one at a time while understanding that the Russia‐Ukraine war is indeed boosting world commodity prices, particularly energy and food. When defining inflation over 12‐month spans, logic and evidence suggest it is fair and accurate (not just partisan) to blame a few percentage points of the high year‐to‐year inflation numbers on the overblown March 2021 pandemic payouts. As for this year’s supply shocks to global food and energy prices, that could best be fixed by world peace. The third payment provided eligible individual taxpayers for a check of up to $1,400″ per family member ($4,200 for a family of four). But the payouts stopped last year, so they explain little of what happened so far this year. Yet the reason inflation surged more in the U.S. than in most other countries last Spring, was a uniquely American fiscal splurge. Were it not for that statistical oddity, excluding the substantial increase in food prices would have resulted in a lower core CPI. And it is not possible even now to quickly grow wheat, feed grains, soybeans, cattle, dairy cows, hogs, or chicken. Although that number is routinely reported as “the” inflation rate for April 2022 it is a backward‐looking average of increases over the past twelve months, with the largest increases happening about a year ago. Yet much or most of that high inflation peaked about a year ago. It shows monthly changes in the “headline” CPI compared to the month before rather than the year before. Shelter, food, airline fare and new vehicles were the largest price increases, while prices of apparel, communication and used cars all fell.

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 dollar was lower on Wednesday after economic data showed inflation remained high but was unlikely to lead the Federal Reserve to shift to a more ...

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