Know The Difference Minute

Even down slightly from March’s 8.5, there isn’t much evidence that inflation has peaked.

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Not this month.
Welcome to the Know the Difference Minute for Wednesday, May 11th.
Another month, another bump in the Consumer Price Index. Officially, an 8.3% increase from April of last year.
Even down slightly from March’s 8.5, there isn’t much evidence that inflation has peaked. The Core-CPI number removes food and energy which are extra volatile. Even then, it was a 6.2% gain.
Everyone feels it. Wages adjusted for inflation decreased. Average hourly wages are up 5.5% but rising costs are destroying paycheck gains.
Inflation is most noticeable at the pump and the grocery store, but housing isn’t far behind. The so-called Shelter Index makes up 1/3 of CPI weighting and has climbed over 5%. That’s the fastest since April of 1991.
No one envy’s the Federal Reserve. It has to cool demand and prices without making a mistake that drags the country into recession.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.