CPI- coming in hot
I asked ChatGPT to summarize the latest CPI report…..
ChatGPT: The latest [Consumer Price Index Summary from the U.S. Bureau of Labor Statistics] shows that inflation accelerated in April 2026, driven largely by higher energy costs. Here are the key takeaways:
Headline Inflation
The overall Consumer Price Index (CPI) rose 3.8% over the past 12 months, up from 3.3% in March.
On a monthly basis, CPI increased 0.6% in April, after a sharp 0.9% rise in March. ([Bureau of Labor Statistics][1])
Core Inflation (excluding food and energy)
Core CPI rose 2.8% year-over-year, compared with 2.6% previously.
Monthly core inflation increased 0.4%, reflecting continued pressure in shelter and service categories. ([Bureau of Labor Statistics][1])
Energy Prices Were the Biggest Driver
Energy prices jumped 17.9% from a year ago.
Gasoline prices surged 28.4% year-over-year and increased 5.4% just in April.
Electricity prices rose 6.1% annually. ([Bureau of Labor Statistics][1])
Food Inflation
Food prices increased 3.2% over the past year.
“Food at home” (grocery prices) rose 2.9%.
Fresh fruits and vegetables increased 6.1%, one of the largest gains within grocery categories.
Nonalcoholic beverages rose 5.1%. ([Bureau of Labor Statistics][1])
Shelter and Services
Shelter costs rose 0.6% in April and remain one of the largest contributors to core inflation.
Airline fares jumped 2.8% for the month and are up more than 20% over the year.
Household furnishings and operations also increased notably. ([Bureau of Labor Statistics][1])
Fresh Produce Implications
For the fresh produce industry, several signals stand out:
Produce inflation remains elevated, especially in fruits and vegetables (+6.1%).
Higher fuel and transportation costs will likely continue pressuring produce supply chains and FOB pricing.
Retailers may become more cautious about passing through additional produce price increases if broader inflation weakens consumer demand.
Categories with heavy freight exposure (berries, leafy greens, imported produce) could face the greatest margin pressure.
Broader Economic Impact
Economists now expect the Federal Reserve System to keep interest rates higher for longer because inflation remains above its 2% target. Financial markets reacted with rising bond yields and concerns that rate cuts may be delayed. ([Reuters][2])
The next CPI release is scheduled for June 10, 2026. ([Bureau of Labor Statistics][3])
[1]: https://www.bls.gov/news.release/archives/cpi_05122026.htm?utm_source=chatgpt.com “Consumer Price Index News Release - 2026 M04 Results”
[2]: https://www.reuters.com/business/us-consumer-prices-increase-further-april-2026-05-12/?utm_source=chatgpt.com “US consumer prices increase further in April”
[3]: https://www.bls.gov/cpi/?utm_source=chatgpt.com “CPI Home : U.S. Bureau of Labor Statistics”
Regulation.gov comment of the day….
As an entomologist and head of agricultural R&D for Fresh Del Monte, I am respectfully submitting my comments regarding USDA’s pest risk analysis leading to the potential approval of importation of fresh pineapples from Taiwan into continental US. Fresh Del Monte actively farms close to 1000 acres of land near Mappsville, Virginia where it grows cantaloupes, honeydews and watermelons for the local market. As American farmers, we are very concerned about the potential introduction of exotic insect pests like the Oriental Fruit Fly, a well-known invasive species that is prevalent in Taiwan and that can attack not only pineapples and melons, but a long list of close to 300 other host fruit species.
After long discussion with field experts, it is our opinion that the risk of introduction of Oriental Fruit Fly through the importation of Taiwanese pineapples if it was ever to be approved is not insignificant. As demonstrated by recent history, states like Florida have spent millions of US dollars eradicating prior detections of Oriental Fruit Fly, with significant impact on the local farmers who have had to dump their fruit during those campaigns. It would only take a few infested pineapples for such an introduction to occur, with disproportionate impact on American farmers growing fresh produce and fruits. In addition to Oriental Fruit Fly, pineapples from Taiwan could harbor a host of other invasive insect species, including exotic lepidopterous species of the genus Darna. As a leading company in the business of pineapple production and export, we respectfully disagree with the statement in APHIS’ risk management document that culling fruit during packing would render the fruit less likely to contain pests, and are concerned by the practical implications of controlling treatment only for pineapple varieties that don’t meet the 50% Smooth Cayenne origin criteria.
It is for the above reasons that we believe that no treatment/mitigation measure and no amount of surveillance at ports of entry is strong enough to make the importation of pineapples from Taiwan safe to American agriculture.