The U.S. Bureau of Labour Statistics (BLS) is reporting that inflation in America rose to 4.9% on an annual basis in April 2023.

The movement is on account of a 0.4% increase in the Consumer Price Index for All Urban Consumers (CPI-U). For the twelve months ending in April, the all items index rose by 4.9%; which represents the weakest 12-month growth since the twelve months ended in April 2021. 

Over the last year, the all items less food and energy index increased by 5.5%. For the twelve months ending in April, the energy index fell by 5.1%, and the food index went up 7.7%.

Factors for the increases

The main contributor to the monthly increase in all items was the index for shelter, followed by increases in the index for used cars and trucks and the gasoline index. The energy index gained 0.6% in April, as a rise in the gasoline index more than offset declines in other energy component indexes. 

The food index remained unchanged in April relative to the prior month and the index for food at home decreased 0.2% while the index for food away from home increased by 0.4%. Similar to March, the index for all items less food and energy increased by 0.4% in April. 

The indexes for shelter, used cars and trucks, motor vehicle insurance, recreation, household furnishings and operations, and personal care all saw increases in April. Among those that declined during April were the indexes for airline fares and new vehicles.