Inflation Rises 3.8% Year over Year

Inflation Rises 3.8% Year over Year

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% on a seasonally adjusted basis in April, after rising 0.9% in March, the U.S. Bureau of Labor Statistics reported May 12. Over the last 12 months, the all items index increased 3.8% before seasonal adjustment. The index for energy rose 3.8% in April, accounting for over forty% of the monthly all items increase.

The shelter index also increased in April, rising 0.6 percent. The index for food increased 0.5% over the month as the index for food at home rose 0.7% and the index for food away from home increased 0.2 percent. The index for all items less food and energy rose 0.4% 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% for the 12 months ending April, after rising 3.3% for the 12 months ending March. The all items less food and energy index rose 2.8% over the year, following a 2.6% increase over the 12 months ending March. The energy index increased 17.9% for the 12 months ending April. The food index increased 3.2% over the last year.