05.12.2020
The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.8 percent in April on a seasonally adjusted basis the largest monthly decline since December 2008 the U.S. Bureau of Labor Statistics reported today. Over the last 12 months the all items index increased 0.3 percent before seasonal adjustment.
A 20.6-percent decline in the gasoline index was the largest contributor to the monthly decrease in the seasonally adjusted all items index but the indexes for apparel motor vehicle insurance airline fares and lodging away from home all fell sharply as well. In contrast food indexes rose in April with the index for food at home posting its largest monthly increase since February 1974. The energy index declined mostly due to the decrease in the gasoline index though some energy component indexes rose.
The index for all items less food and energy fell 0.4 percent in April the largest monthly decline in the history of the series which dates to 1957. Along with the indexes mentioned above the indexes for used cars and trucks and recreation also declined. The indexes for rent owners’ equivalent rent medical care and household furnishings and operations all increased in April.
The all items index increased 0.3 percent for the 12 months ending April the smallest 12-month increase since October 2015. The index for all items less food and energy increased 1.4 percent over the last 12 months its smallest increase since April 2011. The energy index fell 17.7 percent over the last year. In contrast the food index rose 3.5 percent over the last 12 months its largest 12-month increase since February 2012.
Next release is Wednesday June 10 2020 for the May 2020 Consumer Price Index.
