April's consumer price index report expected to show inflation has already peaked

cmbc via msn ^ | 5/10/2022 | Patti Domm

[ronnie raygun]

So biden comes out ahead of the numbers today a says a lot of mumbo jumbo that no one can decipher and we now know the narrative, we have peaked and better times are ahead of us! halleluiah!

[ScottinVA]

Yeah… tell that to commuters filling their gas tanks.

[Varsity Flight]

How nice. Oh how sweet and nice. O neat. O neato.
Blushes. Nicety. Sweet and nice just now. Just now honey.

🚽

[T.B. Yoits]

I see some "price stabilization" not because prices are actually leveling off but because companies are leaving the old prices in place for the out-of-stock items.

I have some low demand items on a two month backorder. Normally they would ship immediately.

[Cboldt]

Core inflation excludes food and energy costs.

Typical government shell game.

[mewzilla]

🤣🤣🤣🤣🤣

[HamiltonJay]

Yea right... Fed raising rates .5 a point every meeting for the rest of the year, and gas up another .15 this week alone...

Keep dreaming

[bigfootbob]

$5.09 in Olympia, Washington 5/09/2022.

[_longranger81]

In a more optimistic note, fertilizer supplies are increasing markedly, as Gobblemint officials and media shills spread more manure further and deeper than scientists had predicted was possible.....

[Paul R.]

Gas Buddy’s charts:

https://www.gasbuddy.com/charts

[mware]

Watched the average on gas prices this morning both gas and diesal prices listed are under the prices in SJersey. Gas is 4.51 and diesal is 6.50

[cdcdawg]

“But economists say, even with a reprieve in headline inflation, core inflation could gain on a monthly basis and stay elevated for months to come.”

Nice hedging.

[tnlibertarian]

Core inflation excludes food and energy costs.

I have seen this comment on FR for years. It is not true. Below is the announcement from BLS on inflation. The 8.3% includes all items. They do have an index that excludes food and energy because they are more volatile and sometimes mask the overall economy. However, they also include the energy (30.3%) and food (9.4%) increases as well.

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 all items less food and energy index rose 6.2 percent over the last 12 months. 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.

[Texas resident]

Prepare for the word “unexpectedly” to come back with a vengence.

obama’s third term.

[bert]

Phase II is across the board wage inflation that will cause prices to rise as manufacturing and overhead costs need to be covered to insure some sort of profitability

[Cboldt]

I blockquoted “Core inflation excludes food and energy costs.” from the OP. It’s not my contention.

There is a measurement referred to as “core inflation.”

https://www.usinflationcalculator.com/inflation/united-states-core-inflation-rates/

There is a different set of measurements called Consumer Price Index.

https://www.bls.gov/cpi/

“In April, the Consumer Price Index for All Urban Consumers rose 0.3 percent, seasonally adjusted, and rose 8.3 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.6 percent in April (SA); up 6.2 percent over the year (NSA).”

[Opinionated Blowhard]

The next step will be that the media starts reporting an “adjusted” inflation number that drops it by a couple percent during a Dem administration and increases it by a couple percent during a Republican administration. I mean, the ohly purpose of economic reporting in most of these propaganda factories is to keep Libs in office.

[fortes fortuna juvat]

And just in time to ensure a Democrat victory in the coming election! AMAZING!

[trebb]

They need to run that by their disinformation crew...when they try to get ahead of it, it ain’t good - or peaked.

[Paul R.]

You would see this gasoline price hike even if crude oil prices were flat or declining.

Uh, depends on what you mean by "this" hike. Last year's spring hike looks to have been maybe 20 cents, with some of that part of the overall trend. (See my link @ my post # 30.)

I'd also note that crude prices swayed a bit in mid May with a corresponding droop in gas prices in late May. BOTH are now on the way back up. So far though, both pale in comparison to the spikes in late February - early March, where the gas price increase actually led the crude price jump.

Regardless, gasoline appears to be going back up, on average, as fast as crude (on average). That makes it hard to blame the present resumption of gas price increases on refinery switchover issues... Instead, gasoline now appears to be merely mirroring the (averaged) crude price.