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Consumer Price Index increased 0.3% in April, Ex Fd & Engy rose 0.1%


The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis after rising 0.4 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.0 percent before seasonal adjustment.

The gasoline index continued to increase, rising 5.7 percent and accounting for over two-thirds of the seasonally adjusted all items monthly increase. The index for energy rose 2.9 percent, although the index for natural gas declined and the index for electricity was unchanged. The food index fell in April, its first monthly decline since June 2017.

The index for all items less food and energy increased 0.1 percent for the third consecutive month. The indexes for shelter, medical care, education, and new vehicles all rose in April. The indexes for used cars and trucks, apparel, and household furnishings and operations were among those that declined over the month.

The all items index increased 2.0 percent for the 12 months ending April, the largest 12-month increase since the period ending November 2018. The index for all items less food and energy rose 2.1 percent over the last 12 months, and the food index rose 1.8 percent. The energy index increased 1.7 percent over the past year after posting 12-month declines the past 4 months.

Food
The food index declined 0.1 percent in April. The index for food at home, which rose 0.4 percent in March, fell 0.5 percent in April. Five of the six major grocery store food group indexes decreased in April. The index for fruits and vegetables declined 0.9 percent in April after rising in February and March. The index for nonalcoholic beverages also declined 0.9 percent in April, and the index for other food at home declined 0.6 percent.

The index for meats, poultry, fish, and eggs fell 0.2 percent in April, the same decrease as in March, and the index for cereals and bakery products declined 0.1 percent. The only major grocery store food group index to rise in April was dairy and related products, which increased 0.1 percent after rising 0.6 percent in March.

The index for food away from home rose 0.3 percent in April. The index for full service meals rose 0.4 percent, and the index for limited service meals increased 0.3 percent.

The food index rose 1.8 percent over the past year, with the food at home index increasing 0.7 percent. The indexes for fruits and vegetables and nonalcoholic beverages increased the most among the major grocery store food groups, each rising 2.2 percent. The index for meats, poultry, fish, and eggs was the only one to decline over the year, falling 1.1 percent. The index for food away from home rose 3.1 percent over the past year, its largest 12-month increase since February 2015.

Energy
The energy index rose 2.9 percent in April. The gasoline index rose 5.7 percent in April following a 6.5-percent increase in March. (Before seasonal adjustment, gasoline prices rose 10.3 percent in April.) The electricity index, which increased in March, was unchanged in April. The index for natural gas continued to fall; its 0.8-percent decrease in April was its fourth consecutive monthly decline.

The energy index increased 1.7 percent over the past 12 months, with its major component indexes mixed. The gasoline index increased 3.1 percent over the past year and the electricity index rose 0.6 percent. The index for natural gas declined 1.9 percent and the index for fuel oil fell 0.9 percent.

All items less food and energy
The index for all items less food and energy increased 0.1 percent in April. The shelter index rose 0.4 percent, the same increase as in March. The index for rent increased 0.4 percent and the index for owners’ equivalent rent rose 0.3 percent. The index for lodging away from home rose 1.6 percent in April, its fifth consecutive monthly increase.

The medical care index rose 0.3 percent in April, the same increase as in March. The index for hospital services fell 0.5 percent, but the index for prescription drugs rose 0.7 percent and the index for physicians’ services advanced 0.2 percent. The education index increased 0.2 percent in April, and the new vehicles index rose 0.1 percent. The indexes for recreation, for communication, and for personal car were all unchanged in April.

The index for used cars and trucks fell 1.3 percent in April, its third consecutive monthly decrease. The apparel index decreased 0.8 percent in April following a 1.9-percent decline in March. The index for household furnishings and operations fell 0.3 percent in April, its first monthly decline since June 2018. The indexes for alcoholic beverages, for tobacco, and for airline fares also declined in April.

The index for all items less food and energy rose 2.1 percent over the past 12 months. The 12-month change has remained in the range of 1.6 percent to 2.4 percent since June 2011. The shelter index rose 3.4 percent over the year, with the rent index rising 3.8 percent. The medical care index increased 1.9 percent over the past 12 months.

Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.0 percent over the last 12 months to an index level of 255.548 (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 1.9 percent over the last 12 months to an index level of 249.332 (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 1.8 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.





Posted: May 10, 2019 Friday 08:30 AM




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