, Columnist
Sorry Inflation Doomers, We're Heading in the Right Direction
The latest data on consumer prices, retail sales and wages suggest that the too-hot first quarter was probably an aberration.
Consumers are taking a break.
Photographer: Yuki Iwamura/Bloomberg
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The disinflation process appears to be intact, even if it’s happening in fits and starts.
The Bureau of Labor Statistics reported Wednesday that its core consumer price index rose 0.3% in April from a month earlier, the slowest pace of the year. At the same time, a separate report showed that control-group retail sales — used to calculate gross domestic product — slipped 0.3% in April, a sign the economy may be experiencing some healthy cooling that could ultimately help douse remaining inflation pressures.