U.S. Annual Inflation Rate Down to 1.1% in April

Over the last 12 months, the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.1 percent before seasonal adjustment. The index decreased 0.4 percent in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported on May 16th.

The all items index increased 1.1 percent over the last 12 months, the smallest 12-month increase since November 2010. The index for all items less food and energy increased 1.7 percent over the span; this was its smallest 12-month increase since June 2011. The food index rose 1.5 percent while the energy index declined 4.3 percent.
On the month over month basis, as was the case in March, a sharp decrease in the gasoline index was the primary cause of the decline in the seasonally adjusted all items index. The fuel oil index also declined while the lectricity and natural gas indexes increased; the net result was a 4.3 percent decrease in the energy index. The food index, unchanged in March, rose 0.2 percent in April.
The index for all items less food and energy increased 0.1 percent in April, the same increase as in March. The indexes for shelter, used cars and trucks, new vehicles, and tobacco all increased in April. These increases were partially offset by declines in the indexes for apparel, airline fares, and recreation.

U.S. Bureau of Labor Statistics, anna@tradingeconomcs.com
5/16/2013 1:42:26 PM