Headline RoundupMay 15th, 2024

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." 

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