April 2024's data according to the latest report from the Bureau of Labor Statistics shows that the pace of consumer price hikes in the US slowed down. The Consumer Price Index (CPI) went up by 0.3% compared to the previous month and by 3.4% compared to last year. This marks a slight decrease from March's 3.5% yearly increase and 0.4% monthly rise.
The April increase fell short of economists' predictions, who anticipated a 0.4% rise. Good news. However, the yearly increase aligned with expectations as per Bloomberg data.
The bad news, however, is that when excluding the more volatile costs of food and gas, prices still saw an uptick. In April, they rose by 0.3% compared to the previous month and by 3.6% compared to last year. These figures show a cooling trend compared to March's data, but they still met economists' forecasts.
One of the underlying impacts of the inflation figures was Auto Sales. Auto Insurance added pressure to the upside.
Retail Sa ...
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