May 10, 2019
Consumer Price Index rises; real hourly earnings decrease in April
According to the Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 0.3% in April. The index measures the change in prices paid by consumers.
The gasoline index largely drove the increase. That index rose 5.7%, and accounted for over two-thirds of the price increase across the entire CPI. Meanwhile, the food index fell by 0.1% in April. This is the first time the food index has fallen since June 2017.
Real average hourly earnings for all workers fell 0.1% in April. Even though the average hourly wage actually increased during this periods, the overall decline in the Consumer Price Index was enough to erode these wage gains.
Source: Bureau of Labor Statistics (1), Bureau of Labor Statistics (2)
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