Key facts
- US CPI rose 3.4% year-over-year in April.
- This marks a deceleration from the 3.5% annual rate seen in March.
- Core CPI, which excludes volatile food and energy prices, increased 3.6% annually.
- The core CPI rate also slowed from 3.8% in March.
- On a monthly basis, CPI increased by 0.3% and core CPI by 0.3%.
The U.S. Consumer Price Index (CPI) rose 3.4% on an annual basis in April, indicating a slight easing of inflationary pressures compared to the 3.5% recorded in March. This figure aligns with market expectations. On a monthly basis, the CPI increased by 0.3%, also a moderation from the previous month. The core CPI, which excludes the more volatile food and energy components, saw its annual rate slow to 3.6% in April, down from 3.8% in March. This core measure also rose by 0.3% month-over-month. The data suggests that while inflation remains above the Federal Reserve's target, the trend is moving in the desired direction.