On a seasonally-adjusted basis, overall consumer prices rose 0.4 percent in April, with the overall consumer price index (CPI) rising 5 percent year-over-year. NAFCU Economist Noah Yosif analyzed the data in a new Macro Data Flash report.
“Inflation is continuing on a welcome downtrend, but at a suboptimal cadence,” said Yosif. “Goods inflation had been decelerating, but April’s print showed a reversal as gas and used vehicle prices spiked. Reports suggest that wholesale prices for used cars have declined more recently, which should appear in the May or June CPI reports.”
Core prices (excluding food and energy costs) rose 0.4 percent compared to the previous month. Year-over-year core CPI growth was 5.5 percent.
Energy prices increased 0.6 percent during the month. From a year ago, energy prices were down 4.9 percent. Food prices stayed flat in March and are up 7.6 percent compared to this time last year.
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