Market Updates
Consumer Price Inflation Eased In April, Core Index Dropped to a 3-year Low
Brian Turner
15 May, 2024
Washington, D.C.
Consumer price inflation rose at a slower annual pace of 3.4% in April from 3.5% in March, the U.S. Bureau of Labor Statistics reported Wednesday.
The seasonally adjusted inflation index rose 0.3% in April after rising 0.4% in March on a monthly basis.
The index for shelter and gasoline rose, and combined, these two indexes contributed over seventy percent of the increase in all items.
The energy index increased 1.1% over the month, and the food index was unchanged.
The prices for used and new vehicles, household furnishings, and operations declined in the month.
The so-called core index, which excludes energy and food prices, slowed to a 0.3% increase after rising to 0.4% in each of the three previous months.
The annual pace of core consumer price index dropped to 3.6%, the lowest level since April 2021.
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