0.1% inflation for March

Markets like it

 

Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold

The positive number is still largely driven by shelter, even though real time rents have actually been flat or declining. Overall this bodes well for the future, although we may see a modest spike in energy going forward.

 

That's one way to spin it for Biden.
5.6% is the hard-cold reality.

 

I wonder what the numbers are when you add back in the price of food and energy.

 

When you include food and energy inflation at 5% year over year.

 

Grocery prices also declined led by eggs (high prices due to unique circumstances) and milk.

 

https://www.rent.com/research/average-rent-price-report/

If you look at monthly rents, using this source, they peaked about Oct 2022 and have come down about 10%. I’d assume these are new rents. It would follow that CPI would lag about 6 months or so, which would mean we may start to see a stabilization or even decline in cpi housing in the coming months.

 

That's one way to spin it against Biden

 

Down compared to February. Still up 8.4% from March 2022.

 

No where did I state YOY except to not (on the other retail recession thread), that it had declined from 9% to 5% (including food and energy)

 

It’s lower largely on decreases in energy prices …… but retail gas prices have increase 4% during the first half of April.

 

Yeah, I think we would all like to see inflation cool off, but it's too early to put the champaign on ice.

 

Almost as if summer travel is approaching.

 

I don’t think that is correct. Inflation up 5% compared to February 2022 no impact from energy and food. Housing was up 8% over the last year though which is baked into the 5%.

 

Details page 10 onward provides lots of details.

https://www.bls.gov/news.release/pdf/cpi.pdf

Sample

 

I haven’t noticed this, though

Food prices ease for the first time since 2020. Here's what's getting cheaper | CNN Business

 

Obviously anecdotal, a few days ago I paid $2.99 for a dozen eggs. Not that long ago they were priced at $4.99 at the same store. Ironically the price of eggs for the name brand (Eggland's Best) was lower than for the house brand at the time.

 

It's in your chart you posted above.

https://www.cnbc.com/2023/04/12/cpi-march-2023-.html

 

Retail gas prices customarily increase at this time of the year as refineries shut down on a rotating basis as refiners shift gasoline from its winter formulation to its summer formulation. The summer formulation is also more expensive than the winter formulation.