This may come as a shock to you, but believe it or not, inflation rose yet again at the end of April. So, if you aren’t already pinching pennies, you may want to start doing so, because everything just got more expensive.
The Federal Reserve’s preferred inflation gauge unexpectedly climbed in April, leading to concerns that the U.S. central bank could raise interest rates for the 11th straight month in June.
In April, the annual personal consumption expenditure (PCE) price index rose to 4.4 percent, up from 4.2 percent, according to the Bureau of Economic Analysis (BEA). On a month-over-month basis, the headline PCE price index rose 0.4 percent, up from 0.1 percent in the previous month.
I love how the Federal Reserve always states “unexpectedly” with a Democrat, but rarely, if ever, for a Republican. I wonder why that is?
The core PCE, which excludes the volatile food and energy components, edged up to 4.7 percent year-over-year, up from 4.6 percent. This was also above the consensus estimate of 4.6 percent. Core PCE also increased by 0.4 percent from March to April, up from 0.3 percent.
Oh yeah, food prices are also rising, so maybe we should take the left’s idea and start eating bugs.