Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Rent up, groceries down: Inflation cooled slightly in April, but consumers still face a mixed bag

by admin May 17, 2024
May 17, 2024
Rent up, groceries down: Inflation cooled slightly in April, but consumers still face a mixed bag

The consumer price index, the most-watched inflation measurement put out by the U.S. government, declined slightly to 3.4% on a 12-month basis in April as price growth in the economy remained elevated.

Compared with March, prices climbed 0.3%, with rent and gasoline contributing 70% of the monthly increase, according to the Bureau of Labor Statistics. That was down from the 0.4% increase seen from February to March.

Stocks responded positively to the news, with the S&P 500 hitting an all-time high and the Dow Jones and NASDAQ indexes also moving upward.

Indeed, some silver linings exist within the data that signal consumers are experiencing some relief in certain categories.

The latest data ‘means the disinflationary process is back on track,’ Adam Crisafulli, a market analyst and head of Vital Knowledge Media, said in a note to clients following Wednesday morning’s report. ‘Meanwhile, rent is still running quite hot, which means non-rent prices are easing even more than it seems on the headline.”

Among the broadest categories tracked by the consumer price index, two of the ones most acutely felt by consumers — food and energy prices — hit 2.2% and 2.6% on a 12-month basis in March, respectively.

That’s essentially in line with the Federal Reserve’s 2% goal.

Within those categories, food at home — essentially, groceries — climbed just 1.1%, while gasoline prices climbed 1.2%.

On a monthly basis, food-at-home prices declined 0.2%, and overall food-price growth was flat.

‘Food is a notable bright spot,’ Neil Dutta, head of economic research at Renaissance Macro Research, said in an interview ahead of Wednesday’s report.

In spite of those positive trends, progress in reducing overall costs has stalled. Economists generally agree it’s mostly because the cost of rent has remained elevated, though there remains disagreement about how soon slowing rent growth will start to appear in the index.

Even as the Fed and other economists have preached patience, the upshot has been an index that has remained stuck from 3% to 4%, above the Fed’s 2% target, for more than a year.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
McDonald’s $5 value meal is coming in June — and staying for just a month
next post
Galan Lithium Limited (ASX: GLN) – Trading Halt

Related Posts

The ‘absolute worst’ of times for car buying...

May 26, 2024

JPMorgan Chase is opening more small-town branches in...

August 7, 2024

GM reveals redesigned GMC Terrain as brand’s entry-level...

August 13, 2024

Reddit co-founder Alexis Ohanian takes minority stake in...

May 16, 2025

Krispy Kreme stock plunges after doughnut chain pauses...

May 9, 2025

Microsoft CEO Nadella forms new AI group to...

January 14, 2025

Apple Watch getting redesigned blood oxygen feature following...

August 16, 2025

Amazon plans to launch discount store in bid...

June 28, 2024

Equinox launches $40,000 membership to help you live...

May 8, 2024

Disney rolls out line-skipping park passes costing up...

October 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Elon Musk halts plans for new political party, prioritizing business instead: report

      August 21, 2025
    • Ukraine’s stolen children crisis looms large as NATO meets on Russia’s war

      August 21, 2025
    • Duffy’s DOT accuses Biden, Buttigieg of inflating air traffic controller pipeline: ‘Juiced the numbers’

      August 21, 2025
    • FBI arrests woman on ‘Ten Most Wanted Fugitives’ hiding in India, transports to US for prosecution

      August 21, 2025
    • Vance, White House blast ‘crazy communists’ protesting DC clean-up, terrorizing locals: ‘Stupid White hippies’

      August 21, 2025

    Categories

    • Business (1,071)
    • Investing (2,877)
    • Politics (3,520)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved