by TonyLiberty
Consumer Price Index Changes (CPI YoY):
+13.9% 🚎 Transportation
+10.2% ⚡ Electricity
+8.8% 🍔 Eating Out
+8.4% 🛍️ Groceries
+8.2% 🏠 Shelter
+6.1% 🚗 New Cars
+5.5% 💨 Gas (Utilities)
+1.0% 💊 Medical Care
-11.2% 🚙 Used Cars
-14.2% 🛢️ Oil (Fuel)
-17.4% ⛽ Gasoline
March CPI (Consumer Price Index) showed that inflation slowed to nearly a 2-year low at 5% in March (down from 6% in February), driven by a decline in gasoline & grocery prices.
Rent still remained a large contributor to inflation.
The decline in gasoline prices was the biggest factor in the drop in inflation but is expected to rise due to OPEC’s recent production cuts.
Used vehicle prices (a significant contributor to the initial inflation surge in 2021) declined 0.9% in March (now down 11% YoY)
Inflation is still at a ~40-year high.