The US inflation rate was released on Wednesday morning. The 8.3% inflation rate was higher than expected at 8.1%.
April 2022 CPI: 8.3% y/y vs. 8.1% Consensus Estimate
— Market Rebellion (@MarketRebels) May 11, 2022
Increases in shelter (Paging Powell!) food, airline fares & new vehicles were largest contributors to SA headline CPI. The food index rose 0.9%, food at home index rose 1.0%. Energy fell in April w/ gasoline fell 6.1% offsetting increases in natural gas and electricity.
— Danielle DiMartino Booth (@DiMartinoBooth) May 11, 2022
Here’s more on today’s inflation number.
Biden delivers another month of higher prices, smaller paychecks
Overall CPI: +8.3% since last year
Meat, Poultry, & Fish: +13.8%
Used Cars: +22.7%
Airline Fares: +33.3%
Real Average Hourly Earnings: -2.6%
— Jacki Kotkiewicz (@jackikotkiewicz) May 11, 2022
FOX Business Network reported on the historic number.