Yahoo Sports

April CPI Report: What you need to know

The April Consumer Price Index was in line with expectations, showing inflation increased 3.4 percent from a year ago, rising 0.3 month-over-month. Yahoo Finance takes a look at some of the key information from the report. "Inflation is moving in the right direction," EY Chief Economist Gregory Daco notes. "If you look at the underlying inflationary dynamics, they still point towards disinflation." "Overall food prices jumped 2.2 percent last month, but was unchanged compared to the month before," Yahoo Finance’s Brooke DiPalma explains. "The cost of groceries alone increased 1.1. percent compared to a year ago, but did see a slight decrease compared to the month prior, down 0.2 percent." Shelter is "up four-tenths of a percent... just in line with what we've been seeing, but that brings the year-over-year contribution of shelter up to 5.5. percent, perviously we were at 5.7 percent. So we are seeing a little bit of progress there," Yahoo Finance's Madison Mills discusses. Transportation inflation was up 0.9 percent month-over-month, "a little bit better than the month before which was up 1.5 percent," Yahoo Finance's Jennifer Schonberger notes. "I really want to call attention to services because that is something that the Fed looks at closely when they look at the different components of inflation. And that clocked in at 5.3 percent for the month of April, holding the same level as March." Rabobank Senior Cross-Asset Macro Strategist Christian Lawrence explains that "in order to see real slowdown in inflation, particularly it's the services measure that we really need to focus on... without seeing consumption start to slow we're not going to get that two percent target." Interactive Brokers Senior Economist José Torres discusses why "services remain the problem." "I'm concerned that services disinflation hasn’t occurred all of last year or this year. I think goods and commodities are starting to work their way lower, but services remain the problem." For more expert insight and the latest market action, click here. This post was written by Mariela Rosales.