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Highlights From Today's CPI Report

Highlights From Today's CPI Report

| May 15, 2024

Some Good News and Some Bad News from April's CPI Report..

  • Both headline and core consumer prices rose 0.3% from a month ago, slightly slower than the pace the previous few months.

  • The latest Consumer Price Index (CPI) report gave us some good signs that services inflation is easing. But in a separate report, the control group of retail sales — the category which feeds into the GDP calculations — fell 0.3% in April, suggesting consumer spending downshifted at the start of the second quarter.

  • Grocery prices fell in April, giving some relief, especially for those buying meats, fruits, and vegetables.

  • The “soft landing” narrative is still a possibility but not a guarantee. Markets will be looking for more confirmation and the weak retail sales report did not help.

What does the CPI report tell us?

It measures the average change in prices paid by consumers over a period of time for a basket of goods and services. The index is calculated and published monthly by the Bureau of Labor Statistics. It is among the most common measures of inflation, indicating the health and direction of the economy.

Wondering how these numbers may or may not impact your portfolio? Let us know, we're never too busy to see if we can help you or someone that you care about.


Sincerely,

Ed