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Wholesale prices post unexpected decline of 0.1% in February; retail sales fall
By Jeff Cox
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Formerly Twitter
Jason Furman
jasonfurman
The CPI-based Ecumenical Underlying Inflation measure was 3.5% in April, up from 3.3% in February and 3.4% in March. Although it is normalized to be equivalent to the PCE has been running (unusually) ~50bp higher than PCE.
Is the median of 7 measures over 3, 6 and 12 months. pic.twitter.com/Tdy7aWTZnL
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Jason Furman
jasonfurman
Forecasters got this month exactly right. Monthly core CPI inflation rate eased off a little from the last few months but still high.
Annual rates:
1 month: 3.6%
3 months: 4.1%
6 months: 4.0%
12 months: 3.6% pic.twitter.com/hZd28wVH9W
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Council of Economic Advisers
WhiteHouseCEA
Both headline and core prices as measured by the CPI grew 0.3% from March to April, both 0.1 ppt slower than last month’s increases. Headline inflation came in a tick below market expectations. 1/ pic.twitter.com/4BeHpy8iKx
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Charlie Bilello
charliebilello
Overall US CPI moved down to 3.36% YoY in April from 3.48% in March. US inflation has now been above 3% for 37 straight months.
US Core CPI (ex-Food/Energy) moved down to 3.62% YoY from 3.80% last month. This is the lowest core inflation reading since April 2021. pic.twitter.com/PBBRPMYAM1
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