SPTS - April's Disinflation Delivery

2024-05-16 12:25:00 ET

Summary

• The Bureau of Labor Statistics reported the Consumer Price Index increased 0.3 percent last month, for a year-over-year change of 3.4 percent.
• Headline CPI inflation was 5.3 percent in February and 3.7 percent in April.
• We usually assume, at minimum, that money demand grows as fast as overall economic activity, measured by real GDP.

Although inflation remains high, disinflation continued in April. The Bureau of Labor Statistics reported the Consumer Price Index (CPI) increased 0.3 percent last month, for a year-over-year change of 3.4 percent. The Core CPI, which excludes volatile food and energy prices, also rose 0.3 percent on the month and 3.6 percent year-over-year....

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