The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

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
Tesla’s Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000
next post
The Mirage casino, which ushered in an era of Las Vegas Strip megaresorts in the ’90s, is closing

Related Posts

Warren Buffett gives away another $5.3 billion, says...

June 29, 2024

OpenAI tops 3 million paying business users, launches...

June 5, 2025

TD Bank pleads guilty in money laundering case,...

October 11, 2024

Four minors found working at Alabama poultry plant...

May 21, 2024

Trump-Bezos call sets stage for tense earnings report...

May 1, 2025

Trump transfers all his DJT shares to his...

December 21, 2024

Shein and Temu see U.S. demand plunge as...

June 6, 2025

Levi Strauss to sell Dockers to brand management...

May 21, 2025

Tariffs would be ‘catastrophic’ for sales of tequila...

February 14, 2025

How thousands of Americans got caught in fintech’s...

July 3, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Latest

    • Is a Chinese chain’s blood orange cold brew the future of coffee in America?

      July 7, 2025
    • S&P 500 Earnings for 2025 Q1 — Still Overvalued

      July 7, 2025
    • Don’t Overlook This Lagging Industry; I Believe It’s Set To Explode!

      July 7, 2025
    • Trump dismisses Musk’s political ambitions as ‘ridiculous’ in sharp rebuke

      July 7, 2025
    • Israel hammers Houthis with airstrikes, rebels respond amid Red Sea flare-up

      July 7, 2025
    • Is a Chinese chain’s blood orange cold brew the future of coffee in America?

      July 7, 2025

    Categories

    • Business (1,284)
    • Politics (3,919)
    • Stocks (1,498)
    • Uncategorized (45)
    • World News (1,277)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 thetraderharbor.com | All Rights Reserved