April Inflation Reading Masks Higher-for-Longer Outlook for Oil

May 12, 2022--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--U.S. inflationary pressures eased in April, according to the latest federal figures, though commodity prices are squarely in the higher-for-longer territory in relative terms.

The U.S. Bureau of Labor Statistics reported that consumer prices increased by 0.3% in April, compared to the 1.2% surge in March. For energy, inflation is still high -- at 44.7% for the 12-month period ending in April -- but the gasoline component declined by 0.6% from March.