US Core CPI Rises More Than Expected

Core consumer prices in the United States, which exclude food and energy, rose by 0.4% from the previous month in April of 2026, the most in over one year, overshooting market expectations of a 0.3% increase. The jump reflected the spread of higher energy prices from the war in the Middle East to core areas of the consumer basket. Prices rose sharply for shelter (0.6% vs 0.3% in March), transportation services (0.3% vs 0.6%), and apparel (0.6% vs 1%).

Core consumer prices in the United States, which exclude food and energy, rose by 0.2% from the previous month in March of 2026, maintaining the growth rate from February and slightly below market expectations of a sharper 0.3% increase. Costs rose firmly for transportation services (0.6%), lifted by the indirect impact from higher energy prices after the outbreak of war in the Middle East prevented tanker flows from the Strait of Hormuz. In the meantime, prices also rose firmly for shelter (0.3%), the most so far this year, and apparel (1%). In turn, prices rose less for new vehicles (0.1%) and fell sharply for used cars and trucks (-0.4%). From the previous year, core consumer prices rose by 2.6%.

Core consumer prices in the United States, which exclude food and energy, rose by 0.2% from the previous month, easing slightly from the 0.3% increase in the previous month to match market expectations. Consumer prices rose sharply for medical care services (0.6% vs 0.3% in January) and rose less for shelter (0.2% vs 0.2%) and transportation services (0.6% vs 0.3%). In turn, costs were more muted for new vehicles (0.1% vs unchanged) and fell further for used cars and trucks (-0.4% vs -1.8%). Annually, core inflation was at 2.5%.