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May 10, 2023US CONSUMER PRICE INDEX, APRIL 2023 The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 4.9% year-over-year in April 2023. This was below the 5.0% increase reported in March 2023 and the smallest increase since the period ending April 2021. Compared to April 2022, prices were higher in food (7.7%), shelter (8.1%) and lower in energy (-5.1%). The CPI excluding food and energy rose 5.5%
The month-over-month (seasonally adjusted) change in the CPI was 0.4% in April 2023, up from 0.1% in March 2023. Over the past month, the largest contributor to the monthly increase was shelter, followed by used cars/trucks and gasoline. The food index was unchanged over the previous month. The CPI excluding food and energy index was up 0.4%.
Note:
Canada and Nova Scotia April 2023 CPI figures will be released on May 16, 2023.
Sources:
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
US Bureau of Labor Statistics, retrieved from FRED, Federal Reserve Bank of St. Louis
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