Newly released federal data shows inflation has continued to remain crushingly high.
The Bureau of Labor Statistics released federal data for the consumer price index, a key marker of inflation that showed in April inflation rose…again.
“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis after rising 1.2 percent in March…” BLS said. “Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment.
That increase has made all kinds of everyday goods and services more expensive for Americans.
“Increases in the indexes for shelter, food, airline fares, and new vehicles were the largest
contributors to the seasonally adjusted all items increase,” BLS said. “The food index rose 0.9 percent over the month as the food at home index rose 1.0 percent. The energy index declined in April after rising in recent months. The index for gasoline fell 6.1 percent over the month, offsetting increases in the indexes for natural gas and electricity.”
Rising food prices have been a major pain point for Americans. While energy prices decreased in April, they are much higher than in recent months, and gas prices are at record highs in May.
“The all items index increased 8.3 percent for the 12 months ending April, a smaller increase than the 8.5-percent figure for the period ending in March,” BLS said. “The all items less food and energy index rose 6.2 percent over the last 12 months. The energy index rose 30.3 percent over the last year, and the food index increased 9.4 percent, the largest 12-month increase since the period ending April 1981.”