Consumer Price Index Increases 0.3% in April; All-Items Index Up 3.4% Year-Over-Year

On Wednesday, the US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in April on a seasonally adjusted basis, following a 0.4% increase in March. Over the past 12 months, the all-items index has increased 3.4% before seasonal adjustment.

The index for shelter rose in April, as did gasoline. Combined, these two indexes contributed over 70% of the monthly increase in the index for all items. The energy index rose 1.1% over the month. The food index was unchanged. The food at home index declined 0.2%, while the food away from home index rose 0.3% over the month.

The index for all items less food and energy increased 0.3% in April, following a 0.4% increase in each of the preceding 3 months. Indexes posting increases in April included shelter, motor vehicle insurance, medical care, apparel, and personal care. The indexes for used cars and trucks, household furnishings and operations, and new vehicles were among those that decreased.

The all-items index increased 3.4% for the 12 months ending in April, a smaller increase than the 3.5% increase for the 12 months ending in March. The all items less food and energy index rose 3.6% over the last 12 months. The energy index increased 2.6% for the 12 months ending in April, while the food index increased 2.2%.

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