The new CPI numbers came out Wednesday morning, clocking in at a hefty 8.3 percent. Per CNN:
The Consumer Price Index was up 8.3% in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday, slightly higher than economists had predicted. It was a decrease from the 8.5% recorded in March, which had been the highest level in more than 40 years.
Note the spin from CNN (and much of the legacy media):
US inflation took a breather last month for the first time since August. Prices still increased, but at a slower pace than in previous months.
I’m not so sure I’d characterize 8.3 percent as “a breather.” I’m with Jim Geraghty on this:
Can you look at these numbers and really characterize it as “inflation took a breather”? t.co/0GQftRM4NI
— Jim Geraghty (@jimgeraghty) May 11, 2022
It got even more difficult in April for American families to put food on the kitchen table in January.
Food prices rose 9.4 compared with a year earlier, data from the Department of Labor showed on Wednesday. That is the fastest rate of inflation for food since 1981. Grocery store prices were up by even more, 10.8 percent. The broader Consumer Price Index rose by 8.3 percent.
Inflation is now not only running high but it has broadened to an economy-wide phenomenon. Even the kitchen table itself is more expensive. Prices for the category of “living room, kitchen, and dining room” furniture are up 14.9 percent compared with a year ago. They rose 1.1 percent compared with March.