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US Consumer Price Index Change
Monthly and Annual CPI growth trends.
Primary Sources
US inflation seen rising again as fuel prices push costs higher
US consumer prices likely rose at a solid pace for a second straight month in April, which would result in the largest annual increase in inflation in more than 2-1/2 years and further bolster expectations that the Federal Reserve would keep interest rates unchanged for a while. The Consumer Price Index report from the Labour Department on Tuesday is also expected to show an acceleration in the monthly underlying inflation rate, though that would be because of a one-time adjustment to rent measures after last year’s shutdown of the federal government prevented data collection. It would follow on the heels of news last week of a bigger-than-anticipated increase in nonfarm payrolls in April. The US-Israeli war with Iran has driven oil prices higher, immediately reflected in higher costs for gasoline, diesel and jet fuel. Economists believe the second-round effects would be felt in the months ahead. Financial markets expect the US central bank to keep rates unchanged into 2027. Back-to-back strong inflation readings would escalate political risk for President Donald Trump and his Republican Party ahead of November’s midterm elections. Trump won re-election in 2024 in large part because he promised to reduce inflation, but Americans have soured on his handling of the economy, and many blame him for the pain at the pump. “People are now realising that the pitch they got about lowering the cost of goods and services is a fairy tale,” said Brian Bethune, an economics professor at Boston College. “They were basically treading water with their nose just above the surface; now they are being pulled down below the surface. There is no air to breathe.” The CPI likely increased 0.6% last month after jumping 0.9% in March, a Reuters survey of economists predicted. Estimates ranged from a 0.4% gain to a 0.9% rise. The moderation after posting the largest increase since June 2022 was mostly mechanical, economists said. Oil prices shot above $100 a barrel in March following strikes against Iran, before pulling back to still-high levels after a ceasefire in early April. Gasoline prices likely accounted for most of the increase in the CPI last month after a record surge in March. Food prices were also expected to have accelerated after an unusual flat reading in March. Economists expected food prices to rise in the coming months, partly reflecting higher energy prices and fertiliser shortages amid shipping disruptions in the Strait of Hormuz. One-time boost from ren...
US consumer inflation expected to have increased further in April amid ...
The Consumer Price Index report from the Labor Department on Tuesday is also expected to show an acceleration in the monthly underlying inflation rate, though that would be because of a one ...
Inflation report to show latest prices as fuel costs surge amid Iran ...
An inflation report on Tuesday will provide a fresh gauge of prices as the Iran war ratchets up costs for gasoline, airfares and other expenses. Economists expect consumer prices to have risen 3.8% in April, when a surge in gasoline costs took hold weeks into the war, which would mark a significant acceleration from 3.3% in the previous month.
Economists Expect Another Hot Inflation Reading in the April CPI Report
The April CPI report is expected to show continued high inflation due to the spike in energy prices. Economists will be watching for any signs of inflation spreading into the broader economy.
