Hi HODLers, Hiveans and Lions.
Today, we had the release of the April CPI which is a gauge of the current inflation in the US.
To sum it up; inflation slowed down to 2.3% YoY thanks to Energy prices going down and other metrics (Food, Used cars...) staying more or less stable month on month (MoM). Shelter (Rent and Home ownership) remained quite high at 4% YoY.
- Food
The index for food decreased 0.1 percent in April, after rising 0.4 percent in March. The food at home index fell
0.4 percent over the month, the largest decline in that index since September 2020. Five of the six major grocery
store food group indexes decreased in April. Driven primarily by a 12.7-percent decrease in the index for eggs, the
index for meats, poultry, fish, and eggs fell 1.6 percent in April after rising in recent months.
- Shelter
The shelter index increased 4.0 percent over the last year. Other indexes with notable increases over the last year include medical care (+2.7 percent), motor vehicle insurance (+6.4 percent), education (+3.8 percent), and recreation (+1.6 percent).
US CPI Inflation
Overall, these are quite good numbers as it will give more tools for the FED to react to any economic slowdown. We cannot say that we defeated inflation yet, but we're getting closer!
Stay safe out there,