• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Rent up, groceries down: Inflation cooled slightly in April, but consumers still face a mixed bag
Editor's Pick

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

by May 17, 2024
by May 17, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • E.l.f. Beauty to acquire Hailey Bieber skin care brand Rhode in up to $1 billion deal
  • Lululemon founder slams company’s ‘whole diversity and inclusion thing’
  • Trump Media plummets 10% as post-lockup selloff picks up steam
  • Pennsylvania Sen. Casey warns Amazon, Target and Walmart over ‘greedflation’ pricing
Share
0
FacebookTwitterPinterestWhatsapp

previous post
McDonald’s $5 value meal is coming in June — and staying for just a month
next post
Gold and Silver Set to Smash Records: Could 2024 Be Their Biggest Year Yet?

You may also like

Armenian organized crime rings charged with stealing $83 million in...

May 22, 2025

Apple announces iPhone event for Sept. 9

August 26, 2024

Delta Airlines cancellations and delays continue but worst of IT...

July 24, 2024

Amazon workers must return to office full time, CEO says

September 17, 2024

Biden administration orders online banker Chime to pay $4.55 million...

May 9, 2024

Are fears of a shoplifting surge running away from the...

November 13, 2023

Dollar General tests same-day delivery as discounter chases Walmart

December 6, 2024

Family offices are giving top staff equity, profit shares in...

July 30, 2024

What to expect as the Fed prepares its final interest...

December 13, 2023

Tyson plant closures prompt economic soul-searching in the Ozarks

November 6, 2023

    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.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    How investors can prepare for lower...

    August 24, 2024

    Warren Buffett — worried about impersonators...

    October 23, 2024

    How Trump was ‘orange-pilled’ by three...

    August 27, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here