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News Link • Economy - Economics USA

CPI Misses Despite Rising Energy, Shelter Costs As Used Car Prices Plunge Most In 9 Years

•, Tyler Durden

The index for all items less food and energy increased 0.1 percent in April. The index for household furnishings and operations rose 0.5 percent in April, the largest increase since April 2015, and the personal care index increased 0.7 percent.

The apparel index rose 0.3 percent in April after declining in March, and the tobacco index increased 1.3 percent. The medical care index rose 0.1 percent in April, with the hospital services index rising 0.2 percent, the prescription drugs index increasing 0.1 percent, and the physicians' services index unchanged. The indexes for education and for alcoholic beverages also rose in April.

Bloomberg's chief U.S. economist Carl Riccadonna wrote in a note today, the tone of the May FOMC statement and subsequent Fedspeak signals a sanguine outlook among officials regarding the prospect of inflation settling near the central bank's 2% objective over the medium term.

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