Wednesday, May 12, 2021

Consumer Price Index Up 0.8 Percent In April; 4.2 Percent Year-on-Year

From the Bureau of Labor Statistics:

Consumer Price Index Summary 


The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent
in April on a seasonally adjusted basis after rising 0.6 percent in March, the
U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the
all items index increased 4.2 percent before seasonal adjustment. This is the
largest 12-month increase since a 4.9-percent increase for the period ending
September 2008.

The index for used cars and trucks rose 10.0 percent 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 food index
increased in April, rising 0.4 percent as the indexes for food at home and
food away from home both increased. The energy index decreased slightly, as a
decline in the index for gasoline in April more than offset increases in the
indexes for electricity and natural gas. 

The index for all items less food and energy rose 0.9 percent in April, its
largest monthly increase since April 1982. Nearly all major component indexes
increased in April. Along with the index for used cars and trucks, the indexes
for shelter, airline fares, recreation, motor vehicle insurance, and household
furnishings and operations were among the indexes with a large impact on the
overall increase.   

The all items index rose 4.2 percent for the 12 months ending April, a larger
increase than the 2.6- percent increase for the period ending March. Similarly,
the index for all items less food and energy rose 3.0 percent over the last
12 months, a larger increase than the 1.6-percent rise over the 12 month period
ending in March. The energy index rose 25.1 percent over the last 12-months,
and the food index increased 2.4 percent....
And more to come