Food, Energy, and Shelter Prices Rise in April

The Bureau of Labor Statistics (BLS) reported that consumer prices increased by 0.3% in April after a 0.2% increase in March. Over the past twelve months, prices on expenditures made by urban consumers increased 2.0% before seasonal adjustments. This is the largest twelve month increase since July of last year.

Indexes for food, energy, and shelter all rose in April. The food index increased by 0.4% for the month as the price of meats, poultry, fish, and eggs all rose. Over the past twelve months, the food index has increase by 1.9%.

The energy index increased 0.3% on a month-over-month seasonally adjusted basis. Gasoline, a component of the energy index, rose by 2.3% month-over-month. Over the past twelve months, the energy index has increase by 3.3%.

The Core CPI, which excludes more volatile food and energy prices, rose by 0.2% on a seasonally adjusted month-over-month basis. The Core CPI rose by 1.8% for the year before seasonal adjustments.


Over the past twelve months, the shelter index increased 2.8% before seasonal adjustments. The shelter index rose 0.2% month-over-month in April after increasing 0.3% month-over-month in March.

NAHB constructs a real rent price index to isolate the change in rental prices. The NAHB constructed measure indicates whether inflation in rents is faster or slower than general inflation and provides some insight into the supply and demand conditions for rental housing, after controlling for overall inflation. The real rent index increased in April by 0.1% month-over-month and 1.2% for the year.



One Response to Food, Energy, and Shelter Prices Rise in April

  1. […] Multifamily construction soared 40% to an annual rate of 423,000 starts, the highest since January 2006. Multifamily starts were particularly strong in the Midwest, where the pace more than doubled perhaps due to weather effects. Rental demand remains strong. Recent consumer price data, for example, indicate that inflation adjusted housing rents are up 1.2% year over year. […]

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