CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » CUNA Research: Housing, Travel, and Cars Boost April’s Core Price Index
Press

CUNA Research: Housing, Travel, and Cars Boost April’s Core Price Index

May 11, 2022

FOR IMMEDIATE RELEASE   
May 11, 2022
Washington, DC

Credit Union National Association (CUNA) Senior Economist Dawit Kebede, PhD, issued the following statement in response to the Labor Department’s April Consumer Index Report:   

“April's core price index, which excludes food and energy, accelerated after a March slowdown due to rising prices for housing, air travel, and new cars. The housing shortage, increased demand for summer travel, and supply constraints due to the lockdown in China will make it difficult for these prices to fall in the coming months. Housing prices – which account for one-third of families' spending – increased at an annualized rate of 6% in the last three months.

“There is a shift from durable goods to services in terms of what is driving April's price increases. Prices for household appliances and used cars declined while recreation, transportation, and other services increased.

“The Federal Reserve raised interest rates by 50 basis points in May to maintain price stability by making it more expensive to borrow and spend. It is expected that another 50-basis point increase will come in June. Monetary policy change takes effect with a lag; hence the changes may not be sufficient to meet the Fed's year end inflation projection.”

###     

About CUNA:           
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 130 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.

CONTACT:          
Deshundra Jefferson   
CUNA Communications        
202-809-4081     

Credit Union Magazine: Winter 2023

Winter 2023

The Winter 2023 issue of Credit Union Magazine explores award-winning marketing, board training on a budget, developments in instant payments, service to small businesses, and NCUA’s final rule on member expulsion.
Digital Edition •  Subscribe

Trending

  • CFPB continues to avoid following mandated rulemaking process

  • CUNA, NAFCU applaud CDFI Fund for adopting credit union-sought changes to certification application

  • CFPB fines Atlantic Union Bank $6.2M for overdraft practices

Polls

How do you feel about the economy in 2024?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us