Good news: April inflation rate at +4.9% YoY

The Fed’s preferred inflation gauge rose 4.9% in April from a year ago, a still-elevated level that nonetheless indicated that price pressures could be easing a bit.

Source: The Fed’s favorite inflation measure rose 4.9% in April in a sign that price increases could be slowing

This is the “core inflation” number which removes fuel and food costs – because you don’t spend anything on fuel and food. This compares to a 5.2% core increase for March.

April’s CPI was 8.3% YoY.