INFLATION EASED TO 4.9% IN APRIL, CORE PRICES REMAIN ELEVATED

Key Points:

  • The Consumer Price Index (CPI) rose 0.4% in April after rising 0.1% in March.
  • CPI increased 4.9% from a year ago, down from 5.0% in March, and the lowest reading since April 2021.
  • The rate of price increases fell below 5% after twenty-two consecutive months.
  • The index for energy decreased 3.5% over the month, food was unchanged, and shelter increased by 0.6% over the month.
  • The core CPI, which excludes food and energy, rose 0.4% in April and is up 5.5% from the previous year.
  • The energy index is down 5.1% and the food index is up 7.7% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source