US Consumer Prices Rise 0.3% in December

US consumer prices increased by 0.6% month-over-month in April 2026, matching market expectations and following a 0.9% surge in March, the largest since 2022. Energy prices jumped 3.8% in April, after a 10.9% spike the previous month, driven by the Iran war and the closure of the Strait of Hormuz. Shelter costs also rose by 0.6%, up from a 0.3% increase in March, while food prices climbed 0.5%, with food at home rising 0.7% and food away from home up 0.2%. Other indexes that increased in April included household furnishings and operations, airline fares, personal care, apparel, and education. Meanwhile, the indexes for new vehicles, communication, and medical care declined. The core rate, which excludes food and energy, rose 0.4%, the most since January 2025 and higher than the expected 0.3%.

The Consumer Price Index in the United States increased 0.9% month-over-month in March 2026, the largest increase since June 2022, following a 0.3% gain in February and in line with forecasts. Energy prices rose 10.9%, led by a 21.2% jump in gasoline which accounted for nearly three quarters of the increase due to the impact of the war with Iran. The shelter index also increased, rising 0.3%. The price for food was unchanged.

The US consumer price index rose by 0.3% from the previous month in February, picking up from the 0.2% increase in the previous month and matching market expectations. Prices rose sharply for fuel oil (11.1 vs -5.7% in January) and gasoline (0.8% vs -3.2%), lifting aggregate energy costs by 0.6%. Energy prices are due to rise further in March as the war in Iran triggered a surge in energy commodity prices. In the meantime, food costs rose by 0.4% (vs 0.2%) amid increases in food at home (0.4% vs 0.2%) and away from home (0.3% vs 0.1%). Core consumer prices rose by 0.2% from the five-month high of 0.3% in January, with support from medical care services (0.6% vs 0.3%) offsetting the decline in used cars and trucks (-0.4% vs -1.8%).