By Tom Burnett CFA
On May 10, 2023, the Bureau of Labor Statistics released its Consumer Price Index report for April. The CPI increased 0.4% in April, following an increase of 0.1% in March. Over the past 12 months, the Index has risen 4.9%, the smallest 12-month increase since April 2021. The Energy Index rose 0.6% in April while the Food Index was unchanged as it was in March.
The Core Index, excluding food and energy, rose 0.4% in April, as it also did in March. The Core Index rose 5.5% over the most recent 12-month period. Over the past year, the Energy Index decreased 5.1%, but the Food Index rose by 7.7%.
The next CPI report will be released on June 13, 2023.
Tom Burnett CFA is Director of Research