CPI Rose 4.9% in Year through April, 10th Straight Month of Decline in Inflation

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in April on a seasonally adjusted
basis, after increasing 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the
last 12 months, the all items index increased 4.9 percent before seasonal adjustment.

The index for shelter was the largest contributor to the monthly all items increase, followed by increases in
the index for used cars and trucks and the index for gasoline. The increase in the gasoline index more than
offset declines in other energy component indexes, and the energy index rose 0.6 percent in April. The food
index was unchanged in April, as it was in March. The index for food at home fell 0.2 percent over the month
while the index for food away from home rose 0.4 percent.

The index for all items less food and energy rose 0.4 percent in April, as it did in March. Indexes which
increased in April include shelter, used cars and trucks, motor vehicle insurance, recreation, household
furnishings and operations, and personal care. The index for airline fares and the index for new vehicles
were among those that decreased over the month.

The all items index increased 4.9 percent for the 12 months ending April; this was the smallest 12-month
increase since the period ending April 2021. The all items less food and energy index rose 5.5 percent over
the last 12 months. The energy index decreased 5.1 percent for the 12 months ending April, and the food index
increased 7.7 percent over the last year. 

Food

The food index was unchanged in April. The food at home index fell 0.2 percent over the month, following a
0.3-percent decrease in March. Four of the six major grocery store food group indexes decreased over the month
. The index for fruits and vegetables decreased 0.5 percent in April, and the index for meats, poultry, fish,
and eggs declined 0.3 percent over the month. The dairy and related products index decreased 0.7 percent in
April as the milk index fell 2.0 percent, the largest decline in that index since February 2015. The
nonalcoholic beverages index declined 0.1 percent over the month.

In contrast, the index for other food at home rose 0.2 percent in April, following a 0.4-percent increase the
previous month. The cereals and bakery products index increased 0.2 percent over the month, after advancing
0.6 percent in March. 

The food away from home index rose 0.4 percent in April. The index for full service meals increased 0.1
percent over the month and the index for limited service meals increased 0.6 percent. 

The food at home index rose 7.1 percent over the last 12 months. The index for cereals and bakery products
rose 12.4 percent over the 12 months ending in April. The remaining major grocery store food groups posted
increases ranging from 2.0 percent (fruits and vegetables) to 10.4 percent (other food at home).

The index for food away from home rose 8.6 percent over the last year. The index for full service meals rose
7.2 percent over the last 12 months, and the index for limited service meals rose 8.2 percent over the same
period. 

Energy

The energy index rose 0.6 percent in April after decreasing 3.5 percent in March. The gasoline index increased
3.0 percent in April, following a 4.6-percent decrease in the previous month. (Before seasonal adjustment,
gasoline prices rose 5.2 percent in April.) 

Other energy components declined, as the natural gas index decreased 4.9 percent over the month, the third
consecutive decrease in that index. The index for electricity decreased 0.7 percent in April, as it did in
March. The fuel oil index also declined in April, down 4.5 percent.

The energy index fell 5.1 percent over the past 12 months. The gasoline index decreased 12.2 percent over the
last 12 months, while the natural gas index fell 2.1 percent, and the fuel oil index fell 20.2 percent over
the span. In contrast, the index for electricity rose 8.4 percent over the last year. 

All items less food and energy

The index for all items less food and energy rose 0.4 percent in April, as it did in March. The shelter index
increased 0.4 percent over the month after rising 0.6 percent in March. The index for rent rose 0.6  percent
in April, and the index for owners' equivalent rent rose 0.5 percent over the month. The index for lodging
away from home decreased 3.0 percent in April after rising in each of the previous four months. 

The shelter index was the largest factor in the monthly increase in the index for all items less food and
energy. Among the other indexes that rose in April was the index for used cars and trucks, which increased
4.4 percent, and the index for motor vehicle insurance which increased 1.4 percent. The indexes for recreation,
household furnishings and operations, personal care, apparel, and education also increased in April. 

Several indexes declined in April, led by the airline fares index which fell 2.6 percent over the month after
rising in February and March. The index for new vehicles declined 0.2 percent and the index for communication
decreased 0.1 percent in April.

The medical care index was unchanged in April, after falling 0.3 percent the previous month. The index for
hospital services rose 0.5 percent over the month, after a 0.4-percent decline in March. The prescription
drugs index increased 0.3 percent in April, while the physicians' services index was unchanged. 

The index for all items less food and energy rose 5.5 percent over the past 12 months. The shelter index
increased 8.1 percent over the last year, accounting for over 60 percent of the total increase in all items
less food and energy. Other indexes with notable increases over the last year include motor vehicle insurance
(+15.5 percent), household furnishings and operations (+5.3 percent), recreation (+5.0 percent), and new
vehicles (+5.4 percent). 

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 4.9 percent over the last 12 months to an
index level of 303.363 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal
adjustment.  

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 4.6 percent over the
last 12 months to an index level of 297.730 (1982-84=100). For the month, the index increased 0.6 percent
prior to seasonal adjustment.  

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 5.2 percent over the last 12
months. For the month, the index increased 0.5 percent on a not seasonally adjusted basis. Please note that
the indexes for the past 10 to 12 months are subject to revision.