The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.
Psst…. that’s 4.9% annualized as well.
The index for all items less food and energy rose 0.2 percent in April, the third increase of that size in the last four months. Indexes making major contributions to that increase included those for new vehicles, used cars and trucks, medical care, and shelter.
Yes, nobody needs to buy food or energy…. never mind that’s above target on a 12 month basis as well.
There’s not much of note in the table itself….. but the flow-through is occurring. We’ll see if this is a “temporary” thing as Bernanke claims, or whether….