Food Prices Hit Staggering Record, Producer Prices Surge, The Lies, Inflation Expectations Crushed

The BLS reported that headline CPI prices eased down to a 0.3% month on month, this was higher than expectations for a 0.2% gain. Energy prices slid 2.7% Month on Month as a pullback in retail gasoline prices led to a 5.4% drop in energy commodities, which was partially offset by a 1.3% increase in energy services (look for energy prices to jump again in May, remember, gasoline is it’s already all time highs. Looking deeper into the report we see food prices were on the rise again led by food at home as the relentless climb in prices begins to weigh heavily on Americans rising 1.0% mom, and food away from home rose 0.6% mom.