Inflation lower than expected

Those people have been having quite a few bad days.

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So its actually well below the feds 2% target

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How is 2.3% well below 2%?

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The index for shelter rose 0.3 percent in April, accounting for more than half of the all items monthly increase.
The energy index also increased over the month, rising 0.7 percent as increases in the natural gas index and the
electricity index more than offset a decline in the gasoline index. The index for food, in contrast, fell 0.1
percent in April as the food at home index decreased 0.4 percent and the food away from home index rose 0.4 percent
over the month.

The index for all items less food and energy rose 0.2 percent in April, following a 0.1-percent increase in March.
Indexes that increased over the month include household furnishings and operations, medical care, motor vehicle
insurance, education, and personal care. The indexes for airline fares, used cars and trucks, communication, and
apparel were among the major indexes that decreased in April.

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I don't believe there are any supply issues in the natural gas. However given the fact that there was an increase in natural gas prices is a data point the economy is still strong and/or we had a cold month. The decrease in gasoline can be easily explained by an increase in supply of its raw material, crude. The supply chain of natural gas is not as flexible as gasoline so when you see a price increase in natural gas, that price is driven by true demand.

I had a selft bet of a delta of - 0.3. I overshot by 2/3rds. I am a cultist I suppose with my wishful thinking.

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Those people have been having quite a few bad days.

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They have been having a few bad years!!

Nice link. Here you go, rookie.

WSJ

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Annual inflation cooled in April, a month when businesses were yanked back and forth as they tried to adjust to President Trump’s unpredictable trade policies.

However, prices rose 0.2% from the previous month, matching forecasts of economists polled by The Wall Street Journal. In March, month-over-month prices had fallen 0.1%.

Consumer prices were up 2.3% in April from a year earlier, the Labor Department reported Tuesday, cooler than March’s gain of 2.4%.

That was below the 2.4% that economists had expected.

Prices excluding food and energy categories—the so-called core measure that economists watch in an effort to better capture inflation’s underlying trend—rose 2.8%. That matched forecasts by economists.

The 2.3% rate of annual inflation was the lowest rate since February 2021, right before supply-chain snarls and pent-up consumer demand sent inflation soaring.

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I hate to say it but if you are a central planner with price controls on our currency with a price goal of 2% inflation, Jerome Powell did the right thing by staying put at the current interest rate.

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He goes off of the Trueflation report.

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Which is complete crap.

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pent-up consumer demand sent inflation soaring.

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Lets just call it what it was.

Government checks