The Bureau of Labor Statistics (BLS) released the inflation data from April today [DATA HERE] showing 0.3% increased inflation in April and a continued 8.3% ‘sticky’ inflation year-over-year. CTH is going to say something slightly unusual, this data is actually worse than expected. The hidden canary in the mine is within this BLS sentence which shows in the statistics, “the index for gasoline fell 6.1 percent over the month, offsetting increases in the indexes for natural gas and electricity.” Remember, these are backwards reflections of price captured in early/mid-April. The actual price of gasoline dropped 1% in April during the timeframe captured. Yes, there was an actual 18 days in April when gasoline prices moderated and slightly ticked down (slightly); however, those prices immediately jumped again late April through today. Late summer and fall food prices will likely be 15 to 20 percent higher than current prices at the supermarket. The fresh foods will be on the upper side of the future price wave, and the processed foods on the lower end; however, both will increase.
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