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  • Services Inflation Rages, Durable Goods Prices Rise Again After 6 Months of Declines. Food Inflation Backs Off, Energy Plunges

Services Inflation Rages, Durable Goods Prices Rise Again After 6 Months of Declines. Food Inflation Backs Off, Energy Plunges

April 13, 2023

by Wolf Richter Wolf Street

Housing inflation is peaking at 8%-plus.

The Consumer Price Index (CPI) for March, released today by the Bureau of Labor Statistics, was marked by plunging energy prices and surging services prices. Food inflation slowed, and month to month actually dipped for the first time in nearly three years. But durable goods inflation month-to-month suddenly rose again, after having been negative for six months, reminding us that inflation is a game of Whac A Mole: