The latest CPI numbers for March were released earlier this week. It can be found on the BLS website.
The bottom line is that cost of living continues to rise, with a volatile energy market, and ever increasing cost of services.
Food & Energy Costs Lead the Decline
Food has only been marginally cheaper compared to the sharp drop on the energy side.
Contrast in Energy: Gas Services Down, Electricity Up
Energy weighing heavily on the headline reading. It’s been a good time to be short natural gas. And clearly food is continues getting more expensive…albeit at a slower rate.
Note that Crude oil has been on the rise lately which might affect the next reading.
Services, Shelter and Apparel Remain Elevated
Time for summer wardrobes and pool maintenance, don’t forget those lawns either.
Summer is for Spending
The lower reading for March was helped in a big way by the decline in energy prices. Summer is a spending heavy time of the year and I am already seeing friends and family on beach vacations and road trips.
We are clearly not out of the woods yet but we are at least not heading the wrong way.
Happy Friday and hope you all have a great weekend.