The April Consumer Price Index (CPI) reported the 12-month inflation rate at 3.4% for April, down slightly from 3.5% in March.
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The inflation rate went down a click in April, ending two straight months of inflation gains. The April Consumer Price Index (CPI) reported the 12-month inflation rate at 3.4% for April, down slightly from 3.5% in March. However, the inflation rate is still higher than it was in February, when it was 3.2%.
On a seasonally adjusted, month-over-month basis, inflation rose 0.3% in April, slightly less than the 0.4% growth rate in March. Economists had anticipated an increase of 0.4% in April, so it was down slightly from expectations.
As a result, the stock markets opened higher on Wednesday, with all of the major indexes up.
Core inflation, which excludes the more volatile food and energy costs, was at 3.6% in April, down from 3.8% in March. Last month’s core inflation rate is the lowest since April 2021.
The indexes for shelter, motor vehicle insurance, medical care, apparel and personal care all increased in April.
