Wednesday, May 19, 2010

CPI Falls for First Time in Over Year

In April, the Consumer Price Index fell 0.1%. This was the first decline since March of 2009. The index was dragged down by declining energy prices, which fell 1.4% over the month. Still, even without the energy component, there was little upward price pressure existent in April. The core index, which excludes prices of energy and food products, was unchanged for a second straight month. From a year prior, the CPI was 2.2% higher. This was down from a recent high of 2.8% in December; however, it is up from negative year-over-year changes as recently as last October. The core CPI was up by a lesser 1.0% from a year prior, a new cyclical low. The growth in core prices has continued to trend downward on a year-over-year basis, indicating that at least currently, little inflationary pressure exists.

10.05.19 (Source: Bureau of Labor Statistics)

No comments:

Post a Comment

Please read our comment policy before making a comment.