US Inflation Declines Again in April, But YoY CPI Holds Well
US CPI report was released a while ago, showing a larger decline in April as crude Oil prices turned negative
Skerdian Meta•Tuesday, May 12, 2020•1 min read
The US inflation report was released a while ago. Crude Oil turned quite bearish in March which had a negative impact on inflation, so the CPI (consumer price index) turned negative for that month, with headline CPI declining by 0.4%, while core CPI only fell by 0.1%, which shows that the decline in Oil prices did have an impact, since core CPI leaves out the change in energy prices.
In April, the decline in crude Oil was even bigger, with the US WTI crude Oil falling to -$37 at some points, with no place to store Oil for US producers. So, inflation was expected to decline further last month and it did, as the report released a while ago showed.
US CPI For April 2020
- CPI MoM -0.8% versus -0.8% estimate
- CPI ex food and energy -0.4% versus -0.2% estimate
- CPI YoY 0.3% versus 0.4% estimate
- CPI ex food and energy 1.4% versus 1.7% estimate
- Food and ex in April increase 1.5% after rising 0.3% in March
- Energy increase decrease -10.1% versus -5.8% in March
- Apparel prices fell -4.7% versus -2% last month
- Services ex energy fell -0.4% versus 0.0% last month
Earnings Are Rising:
- Real average hourly earnings year on year rose by 7.5% versus 1.6% in the prior month
- Real average weekly earnings year on year increase by 6.9% versus
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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