Shelter, Food, Airline Fares & New Vehicles Are the largest contributors to the "All Items" increase
WASHINGTON, D.C. (Texas Insider Report) — “This is more bad news for workers and local businesses. April was another month of raging Bidenflation – which means punishing price hikes, core inflation worsening, and worker's paychecks shrinking," said Texas Congressman Kevin Brady of Houston, after the U.S. Bureau of Labor Statistics released its April Consumer Price Index (CPI) Report showing that consumer prices have increased 8.3% from a year ago.
The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and services.
The Energy Index has increased by 30.3% over the last year, and the Food Index has jumped 9.4%, the largest 12-month increase since the period ending April 1981."If the President claims inflation has peaked, someone ought to remind him that’s what he claimed last year and was horribly wrong,” said Brady, who is a former chairman of the powerful House Ways & Means Committee, where he now serves as the Ranking Republican Leader.
Increases in the indexes for Shelter, Food, Airline Fares, and New Vehicles were the largest contributors to the seasonally adjusted "All Items" increase.
Along with indexes for Shelter, Food, Airline Fares, and New Vehicles, the indexes for Medical Care, Recreation, and Household Furnishings & Operations all increased in April.
The "All Items CPI Index" for the 12 month period ending last month during March rose 8.5%.
Key background:
- Real wages have decreased by over 3% since the Biden Administration started.
- Both core inflation (omitting Food & Energy Prices), and month-over-month inflation gains were higher than expectations.
