April 1996 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent before seasonal adjustment in April to a level of 156.3 (1982-84=100), the Bureau of Labor Statistics of the U.S. Department of Labor reported today. For the 12-month period ended in April, the CPI-U increased 2.9 percent.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose 0.5 percent in April, prior to seasonal adjustment. The April 1996 CPI-W level of 153.6 was 2.9 percent higher than the index in April 1995.

CPI for All Urban Consumers (CPI-U)

On a seasonally adjusted basis, the CPI-U rose 0.4 percent in April, the same as in March. The energy index registered its fifth consecutive increase--up 3.2 percent in April--after declining throughout most of 1995, and accounted for about three-fifths of the April advance in the overall CPI-U. The index for petroleum-based energy increased 5.2 percent in April, its largest advance since a 7.5 percent increase in October 1990, and the index for energy services rose 1.4 percent. The food index rose 0.3 percent in April, following an increase of 0.6 percent in March. The index for fruits and vegetables-- up 1.0 percent in April--continued to advance, but by substantially less than in March. Excluding food and energy, the CPI-U rose 0.1 percent after increasing 0.3 percent in March, reflecting downturns in the indexes for apparel and upkeep, entertainment, telephone services, and tobacco products.

During the first 4 months of 1996, the CPI-U rose at a 4.1 percent seasonally adjusted annual rate (SAAR). This compares with a 2.5 percent increase for all of 1995. Energy costs, which declined last year, have increased at a 22.9 percent rate, with petroleum-based energy advancing at a 45.3 SAAR. The food index has risen at a 3.4 percent annual rate in the first 4 months. Excluding food and energy, the CPI-U advanced at a 3.0 percent rate in the first 4 months of 1996, the same rate as the increase for all of 1995.

The food and beverage index rose 0.3 percent in April. The index for grocery store foods, which increased 0.9 percent in March, rose 0.3 percent in April. Fruit and vegetable prices continued to advance, but by substantially less than in March. A 1.0 percent increase in the index for fruits and vegetables accounted for about three-fifths of the increase in the April grocery store food index. The index for fresh fruits rose 5.1 percent, while that for fresh vegetables declined 3.3 percent. (Prior to seasonal adjustment, fresh vegetable prices rose 1.6 percent.) Among the other major grocery store foods, the index for dairy products increased 0.4 percent, and the index for cereal and bakery products rose 0.2 percent. The index for meats, poultry, fish, and eggs declined 0.2 percent for the second consecutive month. Within the latter group, the index for beef declined for the fifth consecutive month--down 0.2 percent in April--and, coupled with declines in the indexes for poultry and for fish and seafood, more than offset increases in the indexes for pork and for eggs. The other two components of the food and beverage index--restaurant meals and alcoholic beverages--each increased 0.3 percent in April.

The housing component rose 0.3 percent in April, the same as in March. Shelter costs increased 0.2 percent for the third consecutive month. Within shelter, renters' costs and homeowners' costs each increased 0.2 percent, and maintenance and repair costs rose 0.4 percent. The index for fuel and utilities, which increased 0.2 percent in March, rose 0.6 percent in April. The index for household fuels rose 1.6 percent in April, following a 0.3 percent decline in March. The index for natural gas turned back up in April, increasing 2.1 percent. The index for electricity increased 1.1 percent, and the index for fuel oil rose 5.1 percent. The index for other utilities and public services declined 0.6 percent, reflecting a decrease in the index for telephone services--charges for local telephone calls declined 2.4 percent. The index for household furnishings and operation rose 0.1 percent in April, following a 0.2 percent rise in March.

The transportation index advanced 1.1 percent in April. The index for motor fuels increased 5.4 percent and accounted for about 85 percent of the overall transportation increase. Since beginning its upward trek in December, the index for gasoline has risen 15.3 percent. Despite the sharp increases since November, gasoline prices as of April were still 6.6 percent below their peak level of December 1990. Automobile purchase costs continued their pattern of very little movement, evident since the introduction of the 1996 models. The indexes for new car prices and for automobile finance charges each increased 0.1 percent in April. The index for used cars declined 1.3 percent. The index for public transportation increased 1.0 percent.

The index for apparel and upkeep, which increased 0.6 percent in March, declined 0.4 percent in April. (Prior to seasonal adjustment, clothing prices rose 0.1 percent.)

Medical care costs rose 0.3 percent in April to a level 3.7 percent above a year ago. The index for medical care commodities--prescription drugs, non-prescription drugs, and medical supplies--increased 0.4 percent in April. The index for medical care services rose 0.2 percent in April. Charges for professional services and hospital and related services increased 0.3 and 0.2 percent, respectively. Entertainment costs fell 0.1 percent in April. The indexes for sporting goods and equipment and for fees for participant sports declined 0.6 and 1.0 percent, respectively, more than offsetting a 0.7 percent increase in the index for admissions to movies, theaters, concerts, and sporting events.

The index for other goods and services advanced 0.3 percent in April, following an increase of 0.4 percent in March. The index for tobacco and smoking products, which rose 0.7 percent in March, fell 0.2 percent in April, accounting for the slightly smaller rise in this major group.

CPI for Urban Wage Earners and Clerical Workers (CPI-W)

On a seasonally adjusted basis, the CPI for Urban Wage Earners and Clerical Workers rose 0.4 percent in April.

Consumer Price Index data for May are scheduled for release on Wednesday, June 12, 1996, at 8:30 A.M. (EDT).