You Gotta Be Kidding Me…

May 11, 2023

by Karl Denninger Market-Ticker.org

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in April on a seasonally adjusted basis, after increasing 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 4.9 percent before seasonal adjustment.

Remember me pointing out that gasoline was wildly down right in front of the last CPI but had been trending back up, and as a result that would come back out? It did.

The index for shelter was the largest contributor to the monthly all items increase, followed by increases in the index for used cars and trucks and the index for gasoline.

Gee, all those are optional purchases, right? Oh, wait……