Consumer Price Index for All Urban Consumers Increases 0.8% in April; Up 4.2% Year-Over-Year

The U.S. Bureau of Labor Statistics (BLS) announced on Wednesday (5-12-21) the Consumer Price Index for all Urban Consumers (CI-U) increased 0.8% in April, on a seasonally adjusted basis, after rising 0.6% in March. Over the last 12 months, the all items index increased 4.2% before seasonal adjustment. This is the largest 12-month increase since a 4.9% increase for the period ending September 2008. The BLS noted that the index for used cars and trucks rose 10.0% in April. This was the largest 1-month increase since the series began in 1953, and it accounted for over a third of the seasonally adjusted all items increase. The index for all items less food and energy rose 0.9% in April, its largest monthly increase since April 1982. The BLS is reporting that nearly all major component indexes increased in April. For the twelve months ending in April 2021, the all-items index rose 4.2%, a larger increase than the 2.6% increase for the period ending March 2021. Similarly, the index for all items less food and energy rose 3.0% over the last 12 months, a larger increase than the 1.6% rise over the 12-month period ending in March 2021. The energy index rose 25.1% over the last 12-months, while the food index increased 2.4%.

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