Wednesday, November 11, 2026Mortgage news · Rates & market context

Inflation · ORIGINAL ECONOMIC RELEASE

April 2022 Consumer Price Index

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis after rising 1.2 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

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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 after rising 1.2 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment.

Increases in the indexes for shelter, food, airline fares, and new vehicles were the largest contributors to the seasonally adjusted all items increase. The food index rose 0.9 percent over the month as the food at home index rose 1.0 percent. The energy index declined in April after rising in recent months. The index for gasoline fell 6.1 percent over the month, offsetting increases in the indexes for natural gas and electricity.

The index for all items less food and energy rose 0.6 percent in April following a 0.3-percent advance in March. Along with indexes for shelter, airline fares, and new vehicles, the indexes for medical care, recreation, and household furnishings and operations all increased in April. The indexes for apparel, communication, and used cars and trucks all declined over the month.

The all items index increased 8.3 percent for the 12 months ending April, a smaller increase than the 8.5-percent figure for the period ending in March. The all items less food and energy index rose 6.2 percent over the last 12 months. The energy index rose 30.3 percent over the last year, and the food index increased 9.4 percent, the largest 12-month increase since the period ending April 1981.

Food

The food index increased 0.9 percent in April; this was its seventeenth consecutive monthly increase. The index for food at home rose 1.0 percent after rising 1.5 percent the prior month. Five of the six major grocery store food group indexes increased over the month. The index for dairy and related products rose 2.5 percent, its largest monthly increase since July 2007. The index for nonalcoholic beverages also rose sharply, increasing 2.0 percent over the month. The index for meats, poultry, fish, and eggs rose 1.4 percent as the index for eggs increased 10.3 percent in April.

The index for cereals and bakery products increased 1.1 percent over the month, and the index for other food at home rose 0.7 percent. In contrast to these increases, the index for fruits and vegetables declined in April, falling 0.3 percent. The index for fresh fruits declined 0.5 percent, while the index for fresh vegetables was unchanged.

The food away from home index rose 0.6 percent in April after rising 0.3 percent in March. The index for full service meals rose 0.9 percent over the month. The index for limited service meals increased 0.3 percent in April after declining in March.

The food at home index rose 10.8 percent over the last 12 months, the largest 12-month increase since the period ending November 1980. The index for meats, poultry, fish, and eggs increased 14.3 percent over the last year, the largest 12-month increase since the period ending May 1979. The other major grocery store food group indexes also rose over the past year, with increases ranging from 7.8 percent (fruits and vegetables) to 11.0 percent (other food at home).

The index for food away from home rose 7.2 percent over the last year. The index for full service meals rose 8.7 percent over the last 12 months, the largest 12-month increase since the inception of the index in 1997. The index for limited service meals rose 7.0 percent over the last year, while the index for food at employee sites and schools fell 30.0 percent, reflecting widespread free lunch programs.

Energy

The energy index declined 2.7 percent in April after rising 11.0 percent in March. The gasoline index declined in April, falling 6.1 percent after increasing 18.3 percent the prior month. (Before seasonal adjustment, gasoline prices fell 1.0 percent in April.) The other major energy component indexes increased in April; the index for natural gas rose 3.1 percent and the index for electricity increased 0.7 percent.

The energy index rose 30.3 percent over the past 12 months. All the major energy component indexes increased over the year. The gasoline index increased 43.6 percent and the fuel oil index rose 80.5 percent. The index for electricity rose 11.0 percent, and the index for natural gas increased 22.7 percent over the last 12 months.

All items less food and energy

The index for all items less food and energy rose 0.6 percent in April. The shelter index increased 0.5 percent in April, the same increase as in March. The rent index rose 0.6 percent and the owners' equivalent rent index rose 0.5 percent. The index for lodging away from home continued to increase, rising 1.7 percent in April after advancing 3.3 percent in March.

The index for airline fares continued to rise sharply, increasing 18.6 percent in April, the largest 1-month increase since the inception of the series in 1963. The index for new vehicles increased 1.1 percent in April after rising 0.2 percent in March. The medical care index increased 0.4 percent in April. The index for hospital services rose 0.5 percent over the month, the index for physicians' services rose 0.2 percent, and the index for prescription drugs was unchanged.

The recreation index rose 0.4 percent in April after increasing 0.2 percent in March. The index for household furnishings and operations continued to increase, rising 0.4 percent in April after increasing 1.0 percent the prior month. The index for motor vehicle insurance increased 0.8 percent in April. Also rising over the month were the indexes for personal care (+0.4 percent), education (+0.2 percent), alcoholic beverages (+0.4 percent), and tobacco (+0.4 percent).

A few major component indexes declined in April. The apparel index fell 0.8 percent over the month, ending a string of six consecutive increases. The index for communication fell 0.4 percent in April, its third consecutive monthly decline. The index for used cars and trucks also fell 0.4 percent over the month, its third straight decline after a long series of increases.

The index for all items less food and energy rose 6.2 percent over the past 12 months. Virtually all major components have increased over the span. The shelter index rose 5.1 percent over the last year, and the medical care index increased 3.2 percent. Several transportation indexes show notable increases including used cars and trucks (+22.7 percent) and new vehicles (+13.2 percent). The index for airline fares rose 33.3 percent over the last year, the largest 12-month increase since the period ending December 1980.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 8.3 percent over the last 12 months to an index level of 289.109 (1982-84=100). For the month, the index increased 0.6 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 8.9 percent over the last 12 months to an index level of 284.575 (1982-84=100). For the month, the index rose 0.5 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 7.8 percent over the last 12 months. For the month, the index increased 0.6 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Source: U.S. Bureau of Labor Statistics · Original release May 11, 2022.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read consumer inflation on a consistent basis

The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.

Nearest published observation on or before each target date
Benchmark30 days earlierApr 11, 2022Publication referenceMay 11, 202230 days laterJun 10, 2022
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.72%Observed 5.27%Observed +55 bps vs. earlier reference5.23%Observed −4 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury2.79%Observed 2.91%Observed +12 bps vs. earlier reference3.15%Observed +24 bps vs. publication reference

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

Six months around publication

Feb 11, 2022 – Aug 11, 2022
Historical mortgage and Treasury observations around May 11, 2022Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.1.50%3.75%6.00%Publication date30-year fixed mortgage: 3.92% · Feb 17, 202230-year fixed mortgage: 3.89% · Feb 24, 202230-year fixed mortgage: 3.76% · Mar 3, 202230-year fixed mortgage: 3.85% · Mar 10, 202230-year fixed mortgage: 4.16% · Mar 17, 202230-year fixed mortgage: 4.42% · Mar 24, 202230-year fixed mortgage: 4.67% · Mar 31, 202230-year fixed mortgage: 4.72% · Apr 7, 202230-year fixed mortgage: 5.00% · Apr 14, 202230-year fixed mortgage: 5.11% · Apr 21, 202230-year fixed mortgage: 5.10% · Apr 28, 202230-year fixed mortgage: 5.27% · May 5, 202230-year fixed mortgage: 5.30% · May 12, 202230-year fixed mortgage: 5.25% · May 19, 202230-year fixed mortgage: 5.10% · May 26, 202230-year fixed mortgage: 5.09% · Jun 2, 202230-year fixed mortgage: 5.23% · Jun 9, 202230-year fixed mortgage: 5.78% · Jun 16, 202230-year fixed mortgage: 5.81% · Jun 23, 202230-year fixed mortgage: 5.70% · Jun 30, 202230-year fixed mortgage: 5.30% · Jul 7, 202230-year fixed mortgage: 5.51% · Jul 14, 202230-year fixed mortgage: 5.54% · Jul 21, 202230-year fixed mortgage: 5.30% · Jul 28, 202230-year fixed mortgage: 4.99% · Aug 4, 202230-year fixed mortgage: 5.22% · Aug 11, 202210-year Treasury: 1.92% · Feb 11, 202210-year Treasury: 1.98% · Feb 14, 202210-year Treasury: 2.05% · Feb 15, 202210-year Treasury: 2.03% · Feb 16, 202210-year Treasury: 1.97% · Feb 17, 202210-year Treasury: 1.92% · Feb 18, 202210-year Treasury: 1.94% · Feb 22, 202210-year Treasury: 1.99% · Feb 23, 202210-year Treasury: 1.96% · Feb 24, 202210-year Treasury: 1.97% · Feb 25, 202210-year Treasury: 1.83% · Feb 28, 202210-year Treasury: 1.72% · Mar 1, 202210-year Treasury: 1.86% · Mar 2, 202210-year Treasury: 1.86% · Mar 3, 202210-year Treasury: 1.74% · Mar 4, 202210-year Treasury: 1.78% · Mar 7, 202210-year Treasury: 1.86% · Mar 8, 202210-year Treasury: 1.94% · Mar 9, 202210-year Treasury: 1.98% · Mar 10, 202210-year Treasury: 2.00% · Mar 11, 202210-year Treasury: 2.14% · Mar 14, 202210-year Treasury: 2.15% · Mar 15, 202210-year Treasury: 2.19% · Mar 16, 202210-year Treasury: 2.20% · Mar 17, 202210-year Treasury: 2.14% · Mar 18, 202210-year Treasury: 2.32% · Mar 21, 202210-year Treasury: 2.38% · Mar 22, 202210-year Treasury: 2.32% · Mar 23, 202210-year Treasury: 2.34% · Mar 24, 202210-year Treasury: 2.48% · Mar 25, 202210-year Treasury: 2.46% · Mar 28, 202210-year Treasury: 2.41% · Mar 29, 202210-year Treasury: 2.35% · Mar 30, 202210-year Treasury: 2.32% · Mar 31, 202210-year Treasury: 2.39% · Apr 1, 202210-year Treasury: 2.42% · Apr 4, 202210-year Treasury: 2.54% · Apr 5, 202210-year Treasury: 2.61% · Apr 6, 202210-year Treasury: 2.66% · Apr 7, 202210-year Treasury: 2.72% · Apr 8, 202210-year Treasury: 2.79% · Apr 11, 202210-year Treasury: 2.72% · Apr 12, 202210-year Treasury: 2.70% · Apr 13, 202210-year Treasury: 2.83% · Apr 14, 202210-year Treasury: 2.85% · Apr 18, 202210-year Treasury: 2.93% · Apr 19, 202210-year Treasury: 2.85% · Apr 20, 202210-year Treasury: 2.90% · Apr 21, 202210-year Treasury: 2.90% · Apr 22, 202210-year Treasury: 2.81% · Apr 25, 202210-year Treasury: 2.77% · Apr 26, 202210-year Treasury: 2.82% · Apr 27, 202210-year Treasury: 2.85% · Apr 28, 202210-year Treasury: 2.89% · Apr 29, 202210-year Treasury: 2.99% · May 2, 202210-year Treasury: 2.97% · May 3, 202210-year Treasury: 2.93% · May 4, 202210-year Treasury: 3.05% · May 5, 202210-year Treasury: 3.12% · May 6, 202210-year Treasury: 3.05% · May 9, 202210-year Treasury: 2.99% · May 10, 202210-year Treasury: 2.91% · May 11, 202210-year Treasury: 2.84% · May 12, 202210-year Treasury: 2.93% · May 13, 202210-year Treasury: 2.88% · May 16, 202210-year Treasury: 2.98% · May 17, 202210-year Treasury: 2.89% · May 18, 202210-year Treasury: 2.84% · May 19, 202210-year Treasury: 2.78% · May 20, 202210-year Treasury: 2.86% · May 23, 202210-year Treasury: 2.76% · May 24, 202210-year Treasury: 2.75% · May 25, 202210-year Treasury: 2.75% · May 26, 202210-year Treasury: 2.74% · May 27, 202210-year Treasury: 2.85% · May 31, 202210-year Treasury: 2.94% · Jun 1, 202210-year Treasury: 2.92% · Jun 2, 202210-year Treasury: 2.96% · Jun 3, 202210-year Treasury: 3.04% · Jun 6, 202210-year Treasury: 2.98% · Jun 7, 202210-year Treasury: 3.03% · Jun 8, 202210-year Treasury: 3.04% · Jun 9, 202210-year Treasury: 3.15% · Jun 10, 202210-year Treasury: 3.43% · Jun 13, 202210-year Treasury: 3.49% · Jun 14, 202210-year Treasury: 3.33% · Jun 15, 202210-year Treasury: 3.28% · Jun 16, 202210-year Treasury: 3.25% · Jun 17, 202210-year Treasury: 3.31% · Jun 21, 202210-year Treasury: 3.16% · Jun 22, 202210-year Treasury: 3.09% · Jun 23, 202210-year Treasury: 3.13% · Jun 24, 202210-year Treasury: 3.20% · Jun 27, 202210-year Treasury: 3.20% · Jun 28, 202210-year Treasury: 3.10% · Jun 29, 202210-year Treasury: 2.98% · Jun 30, 202210-year Treasury: 2.88% · Jul 1, 202210-year Treasury: 2.82% · Jul 5, 202210-year Treasury: 2.93% · Jul 6, 202210-year Treasury: 3.01% · Jul 7, 202210-year Treasury: 3.09% · Jul 8, 202210-year Treasury: 2.99% · Jul 11, 202210-year Treasury: 2.96% · Jul 12, 202210-year Treasury: 2.91% · Jul 13, 202210-year Treasury: 2.96% · Jul 14, 202210-year Treasury: 2.93% · Jul 15, 202210-year Treasury: 2.96% · Jul 18, 202210-year Treasury: 3.01% · Jul 19, 202210-year Treasury: 3.04% · Jul 20, 202210-year Treasury: 2.91% · Jul 21, 202210-year Treasury: 2.77% · Jul 22, 202210-year Treasury: 2.81% · Jul 25, 202210-year Treasury: 2.81% · Jul 26, 202210-year Treasury: 2.78% · Jul 27, 202210-year Treasury: 2.68% · Jul 28, 202210-year Treasury: 2.67% · Jul 29, 202210-year Treasury: 2.60% · Aug 1, 202210-year Treasury: 2.75% · Aug 2, 202210-year Treasury: 2.73% · Aug 3, 202210-year Treasury: 2.68% · Aug 4, 202210-year Treasury: 2.83% · Aug 5, 202210-year Treasury: 2.77% · Aug 8, 202210-year Treasury: 2.80% · Aug 9, 202210-year Treasury: 2.78% · Aug 10, 202210-year Treasury: 2.87% · Aug 11, 2022Feb 11, 2022May 11, 2022Aug 11, 2022
30-year fixed mortgage26 observations10-year Treasury125 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.

What that benchmark difference would mean for a $300,000 loan

At the publication reference$1,660.33/month

5.27% · May 5, 2022

At the later reference$1,652.90/month

5.23% · Jun 9, 2022

The illustrative principal-and-interest payment is $7.43 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.

Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.

Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

How policy and mortgage rates connect →See current advertised mortgage options →