The US Bureau of Labor Statistics reports that consumer prices rose 0.2% in April, with annual inflation at 2.3%—the lowest since February 2021. Shelter costs led the monthly increase, while energy rose 0.7% and food fell 0.1%. The food at home index dropped 0.4%, the largest decline since September 2020. Core inflation (excluding food and energy) rose 0.2% in April and 2.8% over the year. BLS writes:
CONSUMER PRICE INDEX – APRIL 2025
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in April, after falling 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.
The index for shelter rose 0.3 percent in April, accounting for more than half of the all items monthly increase. The energy index also increased over the month, rising 0.7 percent as increases in the natural gas index and the electricity index more than offset a decline in the gasoline index. The index for food, in contrast, fell 0.1 percent in April as the food at home index decreased 0.4 percent and the food away from home index rose 0.4 percent over the month.
The index for all items less food and energy rose 0.2 percent in April, following a 0.1-percent increase in March. Indexes that increased over the month include household furnishings and operations, medical care, motor vehicle insurance, education, and personal care. The indexes for airline fares, used cars and trucks, communication, and apparel were among the major indexes that decreased in April.
The all items index rose 2.3 percent for the 12 months ending April, after rising 2.4 percent over the 12 months ending March. The April change was the smallest 12-month increase in the all items index since February 2021. The all items less food and energy index rose 2.8 percent over the last 12 months. The energy index decreased 3.7 percent for the 12 months ending April. The food index increased 2.8 percent over the last year.
Food
The index for food decreased 0.1 percent in April, after rising 0.4 percent in March. The food at home index fell 0.4 percent over the month, the largest decline in that index since September 2020. Five of the six major grocery store food group indexes decreased in April. Driven primarily by a 12.7-percent decrease in the index for eggs, the index for meats, poultry, fish, and eggs fell 1.6 percent in April after rising in recent months. The fruits and
vegetables index decreased 0.4 percent over the month and the cereals and bakery products index declined 0.5 percent.
The index for other food at home decreased 0.1 percent in April and the index for dairy and related products fell 0.2 percent. In contrast, the nonalcoholic beverages index increased 0.7 percent over the month.
The food away from home index rose 0.4 percent in April. The index for full service meals rose 0.6 percent over the month and the index for limited service meals rose 0.3 percent.
The index for food at home rose 2.0 percent over the last 12 months. The meats, poultry, fish, and eggs index rose 7.0 percent over the last 12 months as the eggs index increased 49.3 percent. The index for nonalcoholic beverages increased 3.2 percent over the same period, while the index for other food at home rose 0.7 percent. The dairy and related products index increased 1.6 percent over the 12 months ending in April. The cereals and bakery products index was unchanged over the year, while the index for fruits and vegetables decreased 0.9 percent over the same period.
The food away from home index rose 3.9 percent over the last year. The index for full service meals rose 4.3 percent and the index for limited service meals rose 3.4 percent over the same period.
Energy
The energy index increased 0.7 percent in April, after falling 2.4 percent in March. The index for natural gas rose 3.7 percent over the month and the index for electricity increased 0.8 percent. The gasoline index decreased 0.1 percent over the month. (Before seasonal adjustment, gasoline prices increased 2.9 percent in April.)
The index for energy decreased 3.7 percent over the past 12 months. The gasoline index fell 11.8 percent over this 12-month span and the fuel oil index fell 9.6 percent over that period. In contrast, the index for electricity increased 3.6 percent over the last 12 months and the index for natural gas rose 15.7 percent.
All items less food and energy
The index for all items less food and energy rose 0.2 percent in April, following a 0.1-percent increase in March. The shelter index increased 0.3 percent over the month. The index for owners’ equivalent rent rose 0.4 percent in April and the index for rent increased 0.3 percent. The lodging away from home index fell 0.1 percent in April.
The index for household furnishings and operations increased 1.0 percent in April, after being unchanged in March. The motor vehicle insurance index rose 0.6 percent in April. The index for education increased 0.1 percent over the month, as did the index for personal care. In contrast, the airline fares index fell 2.8 percent in April, after declining 5.3 percent in March. The index for used cars and trucks fell 0.5 percent over the month, and the indexes for communication and apparel also declined. The new vehicles index and the recreation index were unchanged in April.
The medical care index increased 0.5 percent over the month. The index for hospital services increased 0.6 percent in April and the index for physicians’ services rose 0.3 percent over the month. The prescription drugs index rose 0.4 percent in April.
The index for all items less food and energy rose 2.8 percent over the past 12 months. The shelter index increased 4.0 percent over the last year. Other indexes with notable increases over the last year include medical care (+2.7 percent), motor vehicle insurance (+6.4 percent), education (+3.8 percent), and recreation (+1.6 percent).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.3 percent over the last 12 months to an index level of 320.795 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.1 percent over the last 12 months to an index level of 314.243 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.1 percent over the last 12 months. For the month, the index increased 0.3 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
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