U.S. Inflation Inches Up 0.3% in April 2024

U.S. consumer prices rose 0.3 percent in April 2024, the Bureau of Labor Statistics (BLS) has said in a report. This marks a slight deceleration from the 0.4 percent rise in the Consumer Price Index for all items seen in March. Over the past 12 months, the all items index surged by 3.4 percent before seasonal adjustment.

Housing and Gasoline Prices Propel Monthly Uptick

The index for shelter experienced a notable surge in April, alongside a rise in gasoline prices, with these two categories collectively contributing to over seventy percent of the overall monthly increase in the index for all items. 

Related News: US Urban Inflation Steady in March Despite Gasoline, Shelter Increases