Source: Bureau of Labor Statistics
Inflation in the United States posted a deceleration in April, as energy prices grew at a slower pace during the month. QQQ is up 0.22%, while SPY is up 0.69%.
- Annual inflation clocked in at 8.3%, slower than the historic high of 8.5% recorded in the previous month.
- Energy prices continued to record the steepest increase with 30.3%, but this is slower than the 32.0% seen in March.
- Prices of energy commodities surged by 44.7%, as gasoline by 43.6%, and fuel oil by 80.5%. Energy services climbed by 13.7%.
- Food prices recorded an annual increase of 9.4%, with food at home up by 10.8% and food away from home by 7.2%.
- Core inflation stood at 6.2%, with commodities excluding food and energy up 9.7%.
- Prices of new vehicles increased by 13.2%, used cars and trucks by 22.7%, apparel by 5.4%, and medical care commodities by 2.1%.
- Services less energy inched up by 4.9%, with shelter up 5.1%, transportation services by 8.5%, and medical services by 3.5%.