April 2014 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.0 percent before seasonal adjustment.

The indexes for gasoline, shelter, and food all rose in April and contributed to the seasonally adjusted all items increase. The gasoline index rose 2.3 percent; this led to the first increase in the energy index since January, despite declines in the electricity and fuel oil indexes. The food index rose 0.4 percent for the third month in a row, as the index for meats rose sharply.

The index for all items less food and energy rose 0.2 percent in April, with most of its major components posting increases, including shelter, medical care, airline fares, new vehicles, used cars and trucks, and recreation. The indexes for apparel, household furnishings and operations, and personal care were all unchanged in April.

The all items index increased 2.0 percent over the last 12 months; this compares to a 1.5 percent increase for the 12 months ending March, and is the largest 12-month increase since July. The index for all items less food and energy has increased 1.8 percent over the last 12 months. The energy index has risen 3.3 percent, and the food index has advanced 1.9 percent over the span.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Oct. Nov. Dec. Jan. Feb. Mar. Apr. ended 2013 2013 2013 2014 2014 2014 2014 Apr. 2014

Consumer Price Index Data for April 2014

Food

The food index rose 0.4 percent in April. The index for food at home, which rose 0.5 percent in both February and March, increased 0.4 percent in April. The index for meats, poultry, fish, and eggs rose 1.5 percent in April and has increased 3.9 percent over the last three months. The index for meats rose 2.9 percent, its largest increase since November 2003. The index for fruits and vegetables also continued to rise, increasing 0.7 percent. The dairy index also rose in April; its 0.5 percent advance was its sixth increase in a row. In contrast to these increases, the index for other food at home declined 0.2 percent, and the nonalcoholic beverages index declined for the fourth month in a row, falling 0.1 percent. The index for cereals and bakery products was unchanged in April. The food at home index has risen 1.7 percent over the past 12 months, with the index for meats, poultry, fish, and eggs up 6.4 percent over the span, the largest increase among the major grocery store food groups. The index for food away from home rose 0.3 percent in April, the third straight such increase, and has increased 2.2 percent over the last 12 months.

Energy

The energy index increased 0.3 percent in April after declining in February and March. The index for gasoline rose 2.3 percent in April. (Before seasonal adjustment, gasoline prices rose 3.6 percent in April). The index for natural gas also increased, rising 0.3 percent after increasing more sharply in previous months. In contrast, the fuel oil index fell 3.0 percent in April after a 2.9 percent decline in March. The electricity index declined sharply in April, falling 2.6 percent, its largest decline since 1986. Much of this decline can be attributed to “climate credits” applied to utility bills in California. The energy index has increased 3.3 percent over the past 12 months, with all major components increasing over that time period. The index for natural gas rose 11.8 percent over the span, while the gasoline index increased 2.4 percent and the electricity index advanced 2.1 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in April, the same increase as in March. The shelter index, which rose 0.3 percent in March, increased 0.2 percent in April. The rent index increased 0.3 percent, the index for owners’ equivalent rent advanced 0.2 percent, and the index for lodging away from home rose 0.4 percent. The medical care index rose 0.3 percent in April, with the indexes for medical care services and medical care commodities both increasing 0.3 percent. The index for airline fares rose sharply in April, increasing 2.6 percent, its largest increase since November 2009. The new vehicles index increased 0.3 percent in April, and the index for used cars and trucks rose 0.5 percent. The recreation index, which declined in March, rose 0.2 percent in April. The tobacco index rose 0.1 percent, the same increase as in March. The indexes for apparel, for household furnishings and operations, and for personal care were all unchanged in April.

The index for all items less food and energy has risen 1.8 percent over the last 12 months. This figure has remained in the range of 1.6 percent to 1.8 percent for 13 months in a row. The shelter index has increased 2.8 percent over the last 12 months; this figure has been trending upward. The medical care index has risen 2.4 percent over the span. The new vehicles index has risen 0.4 percent, while the index for used cars and trucks has advanced 0.2 percent.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.0 percent over the last 12 months to an index level of 237.072 (1982-84=100). For the month, the index rose 0.3 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.0 percent over the last 12 months to an index level of 233.443 (1982-84=100). For the month, the index rose 0.4 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.8 percent over the last 12 months. For the month, the index rose 0.3 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2012 period are subject to revision.

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