From the Wall Street Journal this morning:
“Inflation eased to 4.9% in April as the economy showed signs of cooling.
“Inflation has cooled from its recent peak, but remains stubbornly elevated. The Federal Reserve aggressively raised rates for more than a year to try to tame inflation by slowing economic activity, and indicated last week it might be done lifting them for now.
“The Fed is looking to see signs of inflation declining toward its 2% target. April’s rise comes after prices rose 5% in March from a year earlier.
“Consumer prices rose a seasonally adjusted 0.4% in April from the prior month, versus a 0.1% gain in March, the Labor Department said Wednesday in its consumer-price index report. April’s increase was driven by housing costs and an uptick in gasoline prices.”
KC’s View:
Funny that this story about inflation broke as I was reading a piece in Axios about the same subject but from a different direction:
“A new restaurant called Mischa in midtown Manhattan is serving a $29 hot dog that’s being skewered as a symbol of krazy food inflation … The restaurant’s dinner menu describes the $29 dog as coming on a potato bun with chili and condiments.”
The Axios story also points out that in New York City, you can get a $29 ham-and-cheese takeout sandwich at Eli Zabar’s E.A.T. on the Upper East Side and a $50 burger at the Minetta Tavern.
Oy.
Hot dog aficionados in the New York metropolitan area should know that they can get one of the world’s best hot dogs just 30 minutes away, in Mamaroneck, New York, at the iconic Walter’s, for less than four bucks. Which is more than it used to cost when Michael Sansolo, Mrs. Content Guy and I were growing up just blocks away (Michael and Mrs. Content Guy went to high school together across the street), but still a bargain.
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