Inflation Rose 3.4% Annually in April
Summary from the AllSides News Team
The consumer price index (CPI) increased 0.3% from March to April and 3.4% over the last 12 months, according to the Bureau of Labor Statistics.
The Details: Dow Jones economists reportedly expected a 0.4% monthly increase in the CPI. Items with the biggest price increases from March were transportation (up 11.2%), shelter (5.5%), electricity (5.1%), and "food away from home" (4.1%).
For Context: Core prices, which exclude volatile items like food and energy, rose 3.6% annually, the lowest increase since April 2021.
How the Media Covered It: Left- and center-rated sources framed the report more positively than right-rated sources did, but all suggested that the data wasn't enough to force an interest rate cut by the Federal Reserve. CNN Business (Lean Left bias) said it provided "a glimmer of hope for weary Americans." CNBC (Center) said the report brought "at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent." Fox Business (Lean Right) said "prices remain elevated."
Featured Coverage of this Story
From the Right
Inflation increases 3.4% in April as prices remain elevated
Inflation eased slightly in April for the first time in months, a welcome sign for the Federal Reserve even as prices remained uncomfortably high for millions of Americans.
The Labor Department said Wednesday that the consumer price index, a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.3% in April from the previous month. Economists expected to see a 0.4% monthly increase. Prices climbed 3.4% from the same time last year, down from the 3.5% reading in March.
From the Left
US inflation slowed in April, providing a glimmer of hope for weary Americans
After a hot start to 2024, inflation cooled back down in April, providing a bit of hope for Americans worn down by elevated prices.
Consumer prices were up 3.4% for the 12 months ended in April, easing from 3.5% the month before, according to the latest Consumer Price Index report released Wednesday by the Bureau of Labor Statistics.
On a monthly basis, prices rose 0.3%, a slower pace of growth than the 0.4% seen in the two months prior.
Economists were expecting a 0.4% monthly increase and an annual gain of...
From the Center
Consumer prices rose 0.3% in April, less than expectations
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.
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