BUSINESS

In April, US consumer inflation decreased to 0.3 percent

After increasing by 0.4% in March, the US Consumer Price Index for All Urban Consumers (CPI-U) has decreased to 0.3% in April.

The US Bureau of Labor Statistics published statistics on Wednesday showing that the all-items index increased by 3.4% over the previous year.

The all-items index increased 3.4% annually during the 12 months that ended in April, which was somewhat less than the 3.5 percent gain in the 12 months before. Over the same time, there was a 2.2% rise in the food index and a 2.6% increase in the energy index.

The data shows that while the food index decreased by 1.1% in April, the energy index increased by 1.1%. Over the course of the month, food consumed away from home increased by 0.3%, while the index for food consumed at home decreased by 0.2%.

In addition, the food and energy index increased by 0.3% in April, mostly due to increases in housing, auto insurance, healthcare, clothing, and personal care. Nonetheless, during the course of the month, the indices for new automobiles, home operations and furnishings, and used cars and trucks all saw declines.

Additionally, the data shows that during the last 12 months, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) climbed by 3.4 percent, while the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased by 3.2 percent.

Although development has slowed, the yearly rise in consumer prices has decreased from a record of 9.1% in June 2022. After stabilizing for most of last year, inflation spiked in the first quarter due to robust domestic demand.

On June 12, the May Consumer Price Index will be made public.

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