From the Bureau of Labor Statistics, May 12:
CONSUMER PRICE INDEX - APRIL 2026
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent on a seasonally adjusted basis in April, after rising 0.9 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.8 percent before seasonal adjustment.
The index for energy rose 3.8 percent in April, accounting for over forty percent of the monthly all items increase. The shelter index also increased in April, rising 0.6 percent. The index for food increased 0.5 percent over the month as the index for food at home rose 0.7 percent and the index for food away from home increased 0.2 percent.
The index for all items less food and energy rose 0.4 percent in April. Indexes that increased over the month include household furnishings and operations, airline fares, personal care, apparel, and education. Conversely, the indexes for new vehicles, communication, and medical care were among the major indexes that decreased in April.
The all items index rose 3.8 percent for the 12 months ending April, after rising 3.3 percent for the 12 months ending March. The all items less food and energy index rose 2.8 percent over the year, following a 2.6 percent increase over the 12 months ending March. The energy index increased 17.9 percent for the 12 months ending April. The food index increased 3.2 percent over the last year....
....MUCH MORE, tables, narrative.
And more to come.
Earlier this morning Bloomberg Economics expected:
Headline CPI to increase 0.58% and core CPI rise 0.36%. On a year-over-year basis, headline probably climbed to 3.7% and core to 2.7%.
Energy should add 24 bps to the headline, driven by a 7% increase in gasoline prices. Electricity likely rose 0.9%, and natural gas 0.7%.
Core services likely reaccelerated to 0.4%, with rents the biggest contributor to the firm reading. We expect primary rents to increase 0.45% and owners’ equivalent rent (OER) to advance 0.57%. Unlike most CPI categories, shelter inflation was not fully “caught up” after the October shutdown because rent and OER are measured on a six-month property rotation. That left index levels artificially depressed until the affected units were resurveyed in April.
