April Inflation Stays Near 40-Year High
- May 11, 2022
- Brian Turner
Urban consumer price index in April rose 0.3% from the previous month and 8.3% in the last 12 months, slower pace than 8.5% in the period to March.
The urban consumer price index increased 0.3% in April after adjusting for seasonal factors, the Bureau of Labor Statistics noted today.
The index increased 8.3% in the last 12 months before adjusted for seasonal factors.
The index increased 8.5% in the 12-months to March.
The increases in food, shelter, air travel, and new vehicles contributed the most to the monthly inflation.
On a monthly basis, food prices increased 0.9%, energy prices declined 2.7%, new vehicle prices increased 1.1%, and home shelter prices increased 0.5%.
Home prices across the nation have risen between 30% and 100% in a year and yet the index reflects the rise in cost of shelter 5% on an annual basis.
Rents in most urban markets have jumped between 20% and 100% but are still understated in the index.
Used car price increase in the 12-month to April slowed to 22.7% after rising at 35.3% in March and new vehicle price increase rose to 13.2% after rising at 12.5% in the period.
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