By Tom Burnett CFA
On May 15, 2024, the Bureau of Labor Statistics released its CPI report for April. The Index rose by 0.3% from the previous month. Over the prior 12 months, the CPI increased by 3.4%. The Energy Index rose by 1.1% and the Food Index declined by 0.2% in the month.
The Core Index, excluding food and energy, also rose 0.3% in April, after rising by 0.4% in each of the three previous months. The Core Index rose by 3.6% over the past year, the smallest 12-month increase since April 2021. The Energy Index increased 2.6% and the Food Index rose by 2.2% over the past year.
The next CPI Report will be issued on June 12, 2024.
Tom Burnett CFA is Director of Research