In April, CPI hit 3.8% annually and 0.6% MoM. Excluding food and energy, the core CPI increased 2.8% and 0.4%.
The 3.8% annual figure is the highest since May 2023.
However, as shelter is a big part of CPI, and Oct 2025 data is missing, there is a one-off bump here (0.6% MoM).
- Normally, each housing unit in the CPI rent sample is surveyed once every six months. BLS converts the observed six-month rent change into a monthly rate.
- Because October 2025 rent data were missing, the October index recorded zero rent change for that panel. When the same units were finally surveyed again in April 2026, BLS measured the accumulated rent change from April 2025 to April 2026 and converted it into a monthly estimate. BLS says the April estimate is therefore effectively based on the sixth root of a 12-month change, instead of the usual sixth root of a six-month change
Oil price is obviously rising a lot, in March/April/May.
but that has eased in Jun
Other interesting items like tomatoes.. which rose 15% MoM in April, is impacted by bad weather and US gov July 2025 17.09% antidumping duty on Mexico tomatoes.
