The US Bureau of Labor Statistics (BLS) reports that the Consumer Price Index (CPI) has risen by 0.2% month-over-month (vs. economist forecasts of 0.3%) and 2.3% year-over-year (vs. 2.4%) in the month of April. Supercore CPI — inflation data that excludes food, energy, and housing prices — has also ticked up by 0.2% monthly and risen by 2.74% annually.
Madison Mills dives into the details of the inflation report and data on consumer prices.
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Some breaking news crossing the wire here. Taking a look at the consumer price index coming in just a touch below expectations for the month of April here, coming in month-over-month at 0.2%, slightly below the survey number of 0.3%. Year-over-year also coming in just a touch soft, coming in at 2.3% versus the survey data expectation of 2.4%. Interesting to note here that year-over-year increase is the smallest since February of 2021. Taking a look at some of what's moving this under the hood. The index for shelter rising 3/10 of a percent in April, accounting for more than half of the all items monthly increase here. Taking a look at CPI ex food and energy year-over-year coming in bang inline at 2.8%, that aligns with the survey number of 2.8% as well. Interesting to see some of the decliners across the board here. Taking a look at eggs really falling off, deflation there of around 12%. Overall, this print coming in slightly better than expected, particularly of note given the fact that this is coming in off the back of those tariff negotiations. A question as to whether or not those negotiations are going to impact the data like this going forward here. That super core number month-over-month here again coming in at two tenths of a percent, year over year coming in at 2.743% just a tick below the prior of 2.864%. Taking a look at the market action here, it does appear like we're not having too big of a reaction at the moment, but we are going to continue to monitor all of those moves for you going forward throughout your day. Again, that inflation data coming in just a touch better than anticipated.
