The U.S. Labor Department released its consumer inflation report on Thursday morning. The Consumer Price Index (CPI) is the key measurement of inflation at the retail level, and it is likely to be monitored closely due to two elevated Producer Price Index reports in a row. April’s headline CPI reading was up by 0.3%, and the core CPI (ex-food and energy) rose by only 0.2% in April.
Bloomberg had estimates of 0.3% for the headline CPI reading and a 0.1% consensus for the core CPI reading.
This is the second reading in a row that is positive, but this is still far short of the Federal Reserve’s 2.0% to 2.5% threshold or target. If the Producer Price Index remains elevated in May, chances will increase that inflation has to start creeping in on the consumer level.
It is also no secret that food prices have been rising, in some cases off the charts. Crude oil also remains above the $101 mark, and that means higher prices than a base level for consumers at the pump.
READ MORE: The 10 Fastest Rising Food Prices
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.