From Morningstar: 2024-05-15 11:11:00

The Bureau of Labor Statistics revealed that the Consumer Price Index in the US increased by 3.4% in April from a year ago, slightly lower than March’s 3.5% rate. Core CPI, excluding food and energy costs, rose 3.6% annually in April after a 3.8% increase in March. CPI and core CPI both rose by 0.3% from the previous month.

The index for shelter and gasoline contributed to over 70% of the monthly increase in the CPI in April. On a monthly basis, CPI was expected to increase by 0.4% but only rose by 0.3%. Core CPI, excluding food and energy prices, was predicted to decrease to 0.3% from 0.4% in March.

Energy prices varied in April, with utility gas service prices dropping by 2.9%, fuel oil prices rising by 0.9%, gasoline prices increasing by 2.8%, and electricity prices falling by 0.1%. Shelter prices also increased by 0.4% in April.

The April CPI report highlighted key stats, showing a 0.3% increase in CPI, a 0.3% increase in core CPI, a year-over-year increase of 3.4% in CPI, and a 3.6% increase in core CPI. The data was sourced from the Bureau of Labor Statistics and reviewed by Morningstar editors.



Read more at Morningstar: US Annual Inflation Dips to 3.4% April CPI Report Shows