By Manuel Gutierrez, Consulting economist to NKBA

The 0.3 percent gain is the smallest monthly increase since last August.

• Annual inflation now stands at 8.3 percent, a shade below the 8.5 percent historical high reached in March.
• Core inflation, which is calculated after removing food and energy from the index, hit 7.8 percent in April, a 40-year high.
• Energy prices were 30 percent higher than a year ago, driven by a 43 percent increase in gasoline prices, with household electricity up by 11 percent.
• Food prices were 9.4% higher in April than a year ago.
• Within our industry, Household Windows were up over 24 percent annually, with flooring increases exceeding 11 percent.
• Household Applianceswere up by7.8 percent for the year, led by large appliances such as refrigerators and washing machines, which saw gains above 12 percent.  
• Regionally, annual increases ranged from a low of 7.0 percent in New England, to a high of 9.8 percent in the Mountain States.