The Bureau of Labor and Statistics (BLS) released April’s consumer price index report Wednesday, noting inflation rose 0.3% last month. Indexes that increased include shelter, motor vehicle insurance, medical care, apparel, and personal care. The indexes for used cars and trucks, household furnishings and operations, and new vehicles decreased.
“Headline and core inflation slowed down a bit in April after hot readings during the first quarter,” said America’s Credit Unions Senior Economist Dawit Kebede. “Volatile energy and lagging shelter contributed for over 70% of the monthly increase indicating further easing in the coming few months as the shelter index matches more with current market price of rents. April’s slow pace of job gains report combined with easing inflation has the potential to alter Federal Reserve’s higher for longer position if this trend continues.”
