CPI Looks Great, Just Avoid Gas Stations and Grocery Stores

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April CPI was released from the Labor Department with a nominal rate of +0.2% and a core rate of +0.1%.  According to Bloomberg estimates, those expectations were +0.3% on nominal CPI and and +0.2% Core CPI.

On an annualized basis this was 3.9% on the nominal CPI report, and up 2.3% on an annualized core CPI basis.

As far as individual urban expenses year over year, most costs are still higher.  So as long as you don’t stop by the gas station and as long as you don’t go to the grocery store and as long as you don’t have any real living expenses that aren’t locked in under long-term contracts, then these numbers will sound pretty good.

Jon C. Ogg
May 14, 2008