Inflation taps the brakes in April
Prices for all items tracked by the Bureau of Labor Statistics rose 4.9 percent on an unadjusted year-over-year basis, according to the Consumer Price Index report released Wednesday.
The index for shelter – essentially rent— was the largest contributor to the monthly all-item increase. Shelter rose 8.1 percent year over year.
That increase marks the smallest 12-month increase since the period ending April 2021. The all items less food and energy index rose 5.5 percent over the last 12 months. The energy index decreased 5.1 percent for the 12 months ending April, and the food index increased 7.7 percent over the last year.
For the month, the all-item index increased 0.4 percent on a seasonally adjusted basis.
The above chart reveals the direction of prices, using April 2022 as a starting point. The data is based on seasonally adjusted, month-to-month Consumer Price Index changes in each category. Source: U.S. Bureau of Labor Statistics, HBSDealer analysis.
Here are the items that topped the inflation charts, according to the Bureau’s breakdown (unadjusted, year-over-year):
• Eggs, up 21.4 percent
• Motor vehicle repair, up 20.2 percent
• Frozen vegetables, up 18.9 percent
• Motor vehicle insurance, up 15.5 percent
• Other fats and oils (peanut butter), up 15.3 percent
• Pet food, up 14.6 percent
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Industry specific price changes (unadjusted, year-over-year):
• Tools, hardware and supplies, up 8.9 percent
• Outdoor equipment and supplies, up 12.1 percent
• Housekeeping supplies, up 9.8 percent
