Consumer prices rose 0.6% in April, pushing the annual inflation rate to 3.8%, as higher energy and shelter costs continued to pressure household budgets.
Energy prices posted some of the sharpest gains, with gasoline up 5.4% for the month and nearly 28.4% over the past year, while airline fares climbed 20.7% annually.
A few categories provided relief for consumers, including new vehicles, communication services, and medical care, which all declined in April.
Inflation accelerated again in April as higher gasoline, housing and grocery costs drove consumer prices sharply higher, according to the latest Consumer Price Index report released by the Bureau of Labor Statistics.
The CPI rose 0.6% on a seasonally adjusted basis in April after increasing 0.9% in March. Over the last 12 months, prices climbed 3.8%, up from a 3.3% annual rate the previous month.
Energy costs remained one of the biggest inflation drivers. The energy index increased 3.8% in April and accounted for more than 40% of the monthly increase in overall inflation, the report said. Gasoline prices jumped 5.4% during the month and were up 28.4% compared with a year earlier. Fuel oil prices surged 54.3% over the past 12 months.
Housing costs also continued climbing. The shelter index rose 0.6% in April and increased 3.3% over the last year. Owners’ equivalent rent and rent indexes both advanced 0.5% during the month.
More expensive groceries
Food prices also moved higher. Grocery prices rose 0.7% in April, led by a 2.7% jump in beef prices and a 1.8% increase in fruits and vegetables. Restaurant prices increased 0.2% for the month and were up 3.6% from a year ago.
Outside of food and energy, so-called core inflation rose 0.4% in April and 2.8% over the past year. Among the categories posting notable monthly increases were airline fares, household furnishings, personal care and apparel. Airline fares were up 20.7% compared with a year ago.
Some categories, however, showed modest declines. Prices for new vehicles and communication services each fell 0.2% in April, while the medical care index slipped 0.1%. Hospital services declined 0.3% during the month.