Consumer Price Index - April 2024 | Metals Mine

  • Consumer Price Index - April 2024

    From bls.gov

    The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis, after rising 0.4 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.4 percent before seasonal adjustment. The index for shelter rose in April, as did the index for gasoline. Combined, these two indexes contributed over seventy percent of the monthly increase in the index for all items. The energy index rose 1.1 percent over the month. The food index was unchanged in April. The food at home index declined 0.2 percent, while ... (full story)

Added at 7:37am

  • Consumer prices rose 0.3% in April, less than expectations

    From cnbc.com

    Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent. The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department’s Bureau of Labor Services reported Wednesday. That was slightly below the Dow Jones estimate for 0.4%. On a 12-month basis, however, the CPI increased 3.4%, in line with expectations., Excluding food and energy, the key core inflation reading came in at 0.3% monthly and 3.6% on an annual basis, both ... (full story)

Comment Options
EventsTrader
May 15, 2024 7:48am
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Nothing really shocking in this report. It was basically in line with expectations. The miss on overall CPI m/m was 0.313% vs 0.37 expected. Not as big of a miss as meets the eye. Core CPI to three decimals was 0.292% vs 0.3% expected. Annual inflation for both were in line with expectations.

Notable increases/decreases:

Gasoline increased by 2.8% in April, continuing its trend of rising prices. This increase follows a significant rise of 3.8% in March and a previous increase of 1.5% in February.

Shelter increased by 0.4% in April, continuing to contribute significantly to overall inflation. Rent of primary residence and owners' equivalent rent also saw increases, reinforcing the upward trend in housing costs.

CPI-U increased by 0.4% prior to seasonal adjustment.


Used cars decreased by 1.4% m/m.

Meats, Poultry, Fish, and Eggs decreased by 0.7% in April, driven by a notable decline in the index for eggs by 7.3%.

Fruits and Vegetables decreased by 0.8%, indicating a reduction in prices for fresh produce.
Reply
EventsTrader
May 15, 2024 8:05am
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Quoting abhi17
{quote} With these numbers already headlines are emerging 'Inflation comes down' . Are they right?
Inflation is not coming down to 2% anytime soon, no matter what the narrative or FedSpeak is. Taking these low readings from this report, on an annualized basis that would only get us to a Core CPI 3.57% y/y and CPI 3.83% y/y.

Oil and shelter prices keep rising and it doesn't look like either will subside anytime soon.

While the year-over-year gas increase is relatively modest at 1.2%, the recent monthly gains indicate a upward trend in energy costs.

The 5.5% year-over-year increase in shelter underscores a persistent rise in housing-related expenses. Shelter costs, including rent and owners' equivalent rent, are major components of the CPI and have a strong impact on overall inflation. The steady month-over-month increases point to continued inflationary pressure in the housing market.

Higher for longer.
Reply
EventsTrader
May 15, 2024 8:43am
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Quoting abhi17
{quote} Thanks. We are 15 days away from June. And with these numbers, people are claiming that Sep cut by fed is coming. Do you believe that?
The market is currently pricing in Sept and Dec rate cuts. The latest comments from Fed officials has been if weakness comes into the labor market they'd think about cutting rates. We haven't seen that weakness yet. It might come we'll have to see.

As far as inflation, I'm not sure there's any evidence to suggest the Fed can have the confidence that we're on our way back down to 2%.
Reply
Mitiblotch
May 15, 2024 2:21pm
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Quoting Guest
{quote} Fed will cut at least once before the selections to take some pressure of the consumer back. Fed cutting will help Biden somewhat in that regard. September seems highly likely and even July isn't out of the question still. We'll see... soon.
It appears that voters around the world are mostly dummies who forget the evil done by horrible politicians simply because of a few days of respite before elections.
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Rundatbag
May 15, 2024 8:41am
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Quoting Mitiblotch
{quote} You don't need to believe nothing. All data, I repeat all data, is useless in the short term. Manage your money properly. Do not overleverage. If you employ proper money management even a 300 pip move against your position will not hurt you because you could trade against your prior position and still make money. I have only found sense in data in the longterm.
That’s experience talking right there. Thank you
Reply
Mitiblotch
May 15, 2024 8:34am
Permalink
Quoting abhi17
{quote} Thanks. We are 15 days away from June. And with these numbers, people are claiming that Sep cut by fed is coming. Do you believe that?
You don't need to believe nothing. All data, I repeat all data, is useless in the short term. Manage your money properly. Do not overleverage. If you employ proper money management even a 300 pip move against your position will not hurt you because you could trade against your prior position and still make money.

I have only found sense in data in the longterm.
Reply
MatTrader101
May 15, 2024 7:44am
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Manufacturing hammered, Retail Sales hammered, Inflation still above 3%, housing and services are up %, literally stagflation confirmed here.
Reply
Imtiyaz
May 15, 2024 7:41am
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Fed is reducing inflation
Reply
Rundatbag
May 15, 2024 8:49am
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Quoting EventsTrader
{quote} The market is currently pricing in Sept and Dec rate cuts. The latest comments from Fed officials has been if weakness comes into the labor market they'd think about cutting rates. We haven't seen that weakness yet. It might come we'll have to see. As far as inflation, I'm not sure there's any evidence to suggest the Fed can have the confidence that we're on our way back down to 2%.
Can’t thank ya enough for your insights
Reply
abhi17
May 15, 2024 8:26am
Permalink
Quoting EventsTrader
{quote} Inflation is not coming down to 2% anytime soon, no matter what the narrative or FedSpeak is. Taking these low readings from this report, on an annualized basis that would only get us to a Core CPI 3.57% y/y and CPI 3.83% y/y. Oil and shelter prices keep rising and it doesn't look like either will subside anytime soon. While the year-over-year gas increase is relatively modest at 1.2%, the recent monthly gains indicate a upward trend in energy costs. The 5.5% year-over-year increase in shelter underscores a persistent rise in housing-related...
Thanks. We are 15 days away from June. And with these numbers, people are claiming that Sep cut by fed is coming. Do you believe that?
Reply
woody70
May 15, 2024 12:51pm
Permalink
There will be no rate cut before the election.
Reply
ffghost
May 15, 2024 11:13am
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Quoting Mitiblotch
{quote} You don't need to believe nothing. All data, I repeat all data, is useless in the short term. Manage your money properly. Do not overleverage. If you employ proper money management even a 300 pip move against your position will not hurt you because you could trade against your prior position and still make money. I have only found sense in data in the longterm.
^this, this, and MORE this.

Data is a cause of volatility. Vol causes movement. Traders like (or SHOULD like) movement. Bankroll management > reading the data correctly. For all we know, this could get revised and next month a bloodbath ensues. Trade conservatively if you want to be around long term. If you want the fast buck, put it all on red or black (or buy GME....or short pretty much any equity). If you hit, you double up, otherwise, it is all gone.
Reply
Deevog
May 15, 2024 7:36am
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Sticky
Reply
abhi17
May 15, 2024 7:52am
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Quoting EventsTrader
Nothing really shocking in this report. It was basically in line with expectations. The miss on overall CPI m/m was 0.313% vs 0.37 expected. Not as big of a miss as meets the eye. Core CPI to three decimals was 0.292% vs 0.3% expected. Annual inflation for both were in line with expectations. Notable increases/decreases: Gasoline increased by 2.8% in April, continuing its trend of rising prices. This increase follows a significant rise of 3.8% in March and a previous increase of 1.5% in February. ...
With these numbers already headlines are emerging 'Inflation comes down' . Are they right?
Reply
Trader#6F1C
May 15, 2024 1:43pm
Permalink
Quoting woody70
There will be no rate cut before the election.
Fed will cut at least once before the selections to take some pressure of the consumer back. Fed cutting will help Biden somewhat in that regard. September seems highly likely and even July isn't out of the question still. We'll see... soon.
Reply
TheRexy
May 16, 2024 9:36am
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Quoting Ftmofx
Bitcoin is on fire with RSI and MACD D1 leg up rising chart. The bull run is effective
No sir. BTC coming down to 40k range before next leg up
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hotaggie98
May 15, 2024 7:38am
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There will not be any rate movement this year (except for JPY & CHF)... ignore the number printed
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hotaggie98
May 16, 2024 7:51am
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Gotta love the yo-yo
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Faucon
May 15, 2024 7:58am
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in line with powell expectations
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Ftmofx
May 15, 2024 7:40am
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Very bad data came from US history. I did not see in 2023-2024 ever. Gold and Bitcoin got for long way direction
Ftmofx
May 15, 2024 8:42am
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Bitcoin is on fire with RSI and MACD D1 leg up rising chart. The bull run is effective
Trader#2755
May 15, 2024 7:37am
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Equities love this news.
Reply
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