The gasoline price spike hit CPI inflation for the second month, but electricity prices also spiked, core services inflation spiked - it’s the biggie, accounting for over 60% of CPI - and food prices jumped.
The YoY CPI, rising by 3.8%, has now blown by the Fed's policy interest rates of 3.5% to 3.75%, thereby turning the Fed’s policy rates negative in 'real' terms (adjusted for CPI).
The CPI for Owners' Equivalent of Rent spiked by 0.53% (+6.6% annualized) in April after the same type of catch-up correction as the BLS had done to the rent CPI.
Mohamad Faizal Bin Ramli/iStock via Getty Images
The gasoline price spike hit CPI inflation for the second month, but electricity prices also spiked, core services inflation spiked – it’s the biggie, accounting for over 60% of CPI – and food prices jumped. So it’s a mess – and even if
