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Inflation Decelerates; Core CPI Up

Adobe Stock

Adobe Stock

Inflation in the United States continued to percolate near generational highs in April, but overall percentage increases were less than what was measured in March.

The Consumer Price Index increased 0.3 percent in April, the Department of Labor reported yesterday. The seasonally adjusted figure was a fraction of the 1.2 percent increase in March.

“Increases in the indexes for shelter, food, airline fares and new vehicles were the largest contributors to the seasonally adjusted all-items increase,” the Labor Department said in its monthly CPI statement.

Prices for medical care, recreation and household furnishings also increased in April. Apparel, communication, and preowned cars and trucks saw price declines month over month.

Core CPI, which excludes food and energy, increased 0.6 percent in April after rising 0.3 percent in March.

“The all-items index increased 8.3 percent for the 12 months ending April, a smaller increase than the 8.5 percent figure for the period ending in March,” the department stated. The March reading was the highest in four decades.

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