April CPI: Worst good news ever

The monthly rise in prices based on the Consumer Price Index came in slightly lower than projected, sending a wave of euphoria across the financial landscape. The consensus is cooling inflation puts Federal Reserve interest rate cuts back on the table. The Dow Jones, S&P 500, and the NASDAQ all hit record highs after the data came out on Wednesday.

4 percent month on month. New car prices dropped by 0.4 percent. Meanwhile, clothing costs spiked by 1.2 percent, service prices were up 0.4 percent, energy prices rose with gasoline up 2.7 percent, and shelter costs continued to climb at a 0.4 percent rate. While prices continue to rise, workers are falling further behind. Average earnings fell 0.2 percent on the month as wages failed to keep up with rising prices.

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