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

Inflation · ORIGINAL ECONOMIC RELEASE

April 2025 Consumer Price Index

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in April, after falling 0.1 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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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 0.2 percent on a seasonally adjusted basis in April, after falling 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.

The index for shelter rose 0.3 percent in April, accounting for more than half of the all items monthly increase. The energy index also increased over the month, rising 0.7 percent as increases in the natural gas index and the electricity index more than offset a decline in the gasoline index. The index for food, in contrast, fell 0.1 percent in April as the food at home index decreased 0.4 percent and the food away from home index rose 0.4 percent over the month.

The index for all items less food and energy rose 0.2 percent in April, following a 0.1-percent increase in March. Indexes that increased over the month include household furnishings and operations, medical care, motor vehicle insurance, education, and personal care. The indexes for airline fares, used cars and trucks, communication, and apparel were among the major indexes that decreased in April.

The all items index rose 2.3 percent for the 12 months ending April, after rising 2.4 percent over the 12 months ending March. The April change was the smallest 12-month increase in the all items index since February 2021. The all items less food and energy index rose 2.8 percent over the last 12 months. The energy index decreased 3.7 percent for the 12 months ending April. The food index increased 2.8 percent over the last year.

Changes to leased cars and trucks source data and methodology

Effective with this release, the Bureau of Labor Statistics (BLS) has replaced the survey data collected for the CPI's leased cars and trucks index with transaction data purchased from a vendor to increase the accuracy of the index.

The Measuring Price Change in the CPI: Leased cars and trucks factsheet at www.bls.gov/cpi/factsheets/leased-cars-and-trucks.htm has been updated to reflect these changes.

Food

The index for food decreased 0.1 percent in April, after rising 0.4 percent in March. The food at home index fell 0.4 percent over the month, the largest decline in that index since September 2020. Five of the six major grocery store food group indexes decreased in April. Driven primarily by a 12.7-percent decrease in the index for eggs, the index for meats, poultry, fish, and eggs fell 1.6 percent in April after rising in recent months. The fruits and vegetables index decreased 0.4 percent over the month and the cereals and bakery products index declined 0.5 percent. The index for other food at home decreased 0.1 percent in April and the index for dairy and related products fell 0.2 percent. In contrast, the nonalcoholic beverages index increased 0.7 percent over the month.

The food away from home index rose 0.4 percent in April. The index for full service meals rose 0.6 percent over the month and the index for limited service meals rose 0.3 percent.

The index for food at home rose 2.0 percent over the last 12 months. The meats, poultry, fish, and eggs index rose 7.0 percent over the last 12 months as the eggs index increased 49.3 percent. The index for nonalcoholic beverages increased 3.2 percent over the same period, while the index for other food at home rose 0.7 percent. The dairy and related products index increased 1.6 percent over the 12 months ending in April. The cereals and bakery products index was unchanged over the year, while the index for fruits and vegetables decreased 0.9 percent over the same period.

The food away from home index rose 3.9 percent over the last year. The index for full service meals rose 4.3 percent and the index for limited service meals rose 3.4 percent over the same period.

Energy

The energy index increased 0.7 percent in April, after falling 2.4 percent in March. The index for natural gas rose 3.7 percent over the month and the index for electricity increased 0.8 percent. The gasoline index decreased 0.1 percent over the month. (Before seasonal adjustment, gasoline prices increased 2.9 percent in April.)

The index for energy decreased 3.7 percent over the past 12 months. The gasoline index fell 11.8 percent over this 12-month span and the fuel oil index fell 9.6 percent over that period. In contrast, the index for electricity increased 3.6 percent over the last 12 months and the index for natural gas rose 15.7 percent.

All items less food and energy

The index for all items less food and energy rose 0.2 percent in April, following a 0.1-percent increase in March. The shelter index increased 0.3 percent over the month. The index for owners' equivalent rent rose 0.4 percent in April and the index for rent increased 0.3 percent. The lodging away from home index fell 0.1 percent in April.

The index for household furnishings and operations increased 1.0 percent in April, after being unchanged in March. The motor vehicle insurance index rose 0.6 percent in April. The index for education increased 0.1 percent over the month, as did the index for personal care. In contrast, the airline fares index fell 2.8 percent in April, after declining 5.3 percent in March. The index for used cars and trucks fell 0.5 percent over the month, and the indexes for communication and apparel also declined. The new vehicles index and the recreation index were unchanged in April.

The medical care index increased 0.5 percent over the month. The index for hospital services increased 0.6 percent in April and the index for physicians' services rose 0.3 percent over the month. The prescription drugs index rose 0.4 percent in April.

The index for all items less food and energy rose 2.8 percent over the past 12 months. The shelter index increased 4.0 percent over the last year. Other indexes with notable increases over the last year include medical care (+2.7 percent), motor vehicle insurance (+6.4 percent), education (+3.8 percent), and recreation (+1.6 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.3 percent over the last 12 months to an index level of 320.795 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.1 percent over the last 12 months to an index level of 314.243 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.1 percent over the last 12 months. For the month, the index increased 0.3 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Rebasing of Selected Consumer Price Index Series

With the publication of July 2025 data on August 12, 2025, several CPI series will be rebased to December 2024 = 100. When new base years are introduced, BLS recalculates each index back to the beginning of that series to ensure continuity. A complete list of indexes to be rebased is available at www.bls.gov/cpi/additional-resources/rebased-series.htm.

Source: U.S. Bureau of Labor Statistics · Original release May 13, 2025.

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 13, 2025Publication referenceMay 13, 202530 days laterJun 12, 2025
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.62%Observed 6.76%Observed +14 bps vs. earlier reference6.84%Observed +8 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.48%Observed 4.49%Observed +1 bps vs. earlier reference4.36%Observed −13 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 13, 2025 – Aug 13, 2025
Historical mortgage and Treasury observations around May 13, 2025Each 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.4.00%5.50%7.00%Publication date30-year fixed mortgage: 6.87% · Feb 13, 202530-year fixed mortgage: 6.85% · Feb 20, 202530-year fixed mortgage: 6.76% · Feb 27, 202530-year fixed mortgage: 6.63% · Mar 6, 202530-year fixed mortgage: 6.65% · Mar 13, 202530-year fixed mortgage: 6.67% · Mar 20, 202530-year fixed mortgage: 6.65% · Mar 27, 202530-year fixed mortgage: 6.64% · Apr 3, 202530-year fixed mortgage: 6.62% · Apr 10, 202530-year fixed mortgage: 6.83% · Apr 17, 202530-year fixed mortgage: 6.81% · Apr 24, 202530-year fixed mortgage: 6.76% · May 1, 202530-year fixed mortgage: 6.76% · May 8, 202530-year fixed mortgage: 6.81% · May 15, 202530-year fixed mortgage: 6.86% · May 22, 202530-year fixed mortgage: 6.89% · May 29, 202530-year fixed mortgage: 6.85% · Jun 5, 202530-year fixed mortgage: 6.84% · Jun 12, 202530-year fixed mortgage: 6.81% · Jun 18, 202530-year fixed mortgage: 6.77% · Jun 26, 202530-year fixed mortgage: 6.67% · Jul 3, 202530-year fixed mortgage: 6.72% · Jul 10, 202530-year fixed mortgage: 6.75% · Jul 17, 202530-year fixed mortgage: 6.74% · Jul 24, 202530-year fixed mortgage: 6.72% · Jul 31, 202530-year fixed mortgage: 6.63% · Aug 7, 202510-year Treasury: 4.52% · Feb 13, 202510-year Treasury: 4.47% · Feb 14, 202510-year Treasury: 4.55% · Feb 18, 202510-year Treasury: 4.53% · Feb 19, 202510-year Treasury: 4.50% · Feb 20, 202510-year Treasury: 4.42% · Feb 21, 202510-year Treasury: 4.40% · Feb 24, 202510-year Treasury: 4.30% · Feb 25, 202510-year Treasury: 4.25% · Feb 26, 202510-year Treasury: 4.29% · Feb 27, 202510-year Treasury: 4.24% · Feb 28, 202510-year Treasury: 4.16% · Mar 3, 202510-year Treasury: 4.22% · Mar 4, 202510-year Treasury: 4.28% · Mar 5, 202510-year Treasury: 4.29% · Mar 6, 202510-year Treasury: 4.32% · Mar 7, 202510-year Treasury: 4.22% · Mar 10, 202510-year Treasury: 4.28% · Mar 11, 202510-year Treasury: 4.32% · Mar 12, 202510-year Treasury: 4.27% · Mar 13, 202510-year Treasury: 4.31% · Mar 14, 202510-year Treasury: 4.31% · Mar 17, 202510-year Treasury: 4.29% · Mar 18, 202510-year Treasury: 4.25% · Mar 19, 202510-year Treasury: 4.24% · Mar 20, 202510-year Treasury: 4.25% · Mar 21, 202510-year Treasury: 4.34% · Mar 24, 202510-year Treasury: 4.31% · Mar 25, 202510-year Treasury: 4.35% · Mar 26, 202510-year Treasury: 4.38% · Mar 27, 202510-year Treasury: 4.27% · Mar 28, 202510-year Treasury: 4.23% · Mar 31, 202510-year Treasury: 4.17% · Apr 1, 202510-year Treasury: 4.20% · Apr 2, 202510-year Treasury: 4.06% · Apr 3, 202510-year Treasury: 4.01% · Apr 4, 202510-year Treasury: 4.15% · Apr 7, 202510-year Treasury: 4.26% · Apr 8, 202510-year Treasury: 4.34% · Apr 9, 202510-year Treasury: 4.40% · Apr 10, 202510-year Treasury: 4.48% · Apr 11, 202510-year Treasury: 4.38% · Apr 14, 202510-year Treasury: 4.35% · Apr 15, 202510-year Treasury: 4.29% · Apr 16, 202510-year Treasury: 4.34% · Apr 17, 202510-year Treasury: 4.42% · Apr 21, 202510-year Treasury: 4.41% · Apr 22, 202510-year Treasury: 4.40% · Apr 23, 202510-year Treasury: 4.32% · Apr 24, 202510-year Treasury: 4.29% · Apr 25, 202510-year Treasury: 4.23% · Apr 28, 202510-year Treasury: 4.19% · Apr 29, 202510-year Treasury: 4.17% · Apr 30, 202510-year Treasury: 4.25% · May 1, 202510-year Treasury: 4.33% · May 2, 202510-year Treasury: 4.36% · May 5, 202510-year Treasury: 4.30% · May 6, 202510-year Treasury: 4.26% · May 7, 202510-year Treasury: 4.37% · May 8, 202510-year Treasury: 4.37% · May 9, 202510-year Treasury: 4.45% · May 12, 202510-year Treasury: 4.49% · May 13, 202510-year Treasury: 4.53% · May 14, 202510-year Treasury: 4.45% · May 15, 202510-year Treasury: 4.43% · May 16, 202510-year Treasury: 4.46% · May 19, 202510-year Treasury: 4.48% · May 20, 202510-year Treasury: 4.58% · May 21, 202510-year Treasury: 4.54% · May 22, 202510-year Treasury: 4.51% · May 23, 202510-year Treasury: 4.43% · May 27, 202510-year Treasury: 4.47% · May 28, 202510-year Treasury: 4.43% · May 29, 202510-year Treasury: 4.41% · May 30, 202510-year Treasury: 4.46% · Jun 2, 202510-year Treasury: 4.46% · Jun 3, 202510-year Treasury: 4.37% · Jun 4, 202510-year Treasury: 4.40% · Jun 5, 202510-year Treasury: 4.51% · Jun 6, 202510-year Treasury: 4.49% · Jun 9, 202510-year Treasury: 4.47% · Jun 10, 202510-year Treasury: 4.41% · Jun 11, 202510-year Treasury: 4.36% · Jun 12, 202510-year Treasury: 4.41% · Jun 13, 202510-year Treasury: 4.46% · Jun 16, 202510-year Treasury: 4.39% · Jun 17, 202510-year Treasury: 4.38% · Jun 18, 202510-year Treasury: 4.38% · Jun 20, 202510-year Treasury: 4.34% · Jun 23, 202510-year Treasury: 4.30% · Jun 24, 202510-year Treasury: 4.29% · Jun 25, 202510-year Treasury: 4.26% · Jun 26, 202510-year Treasury: 4.29% · Jun 27, 202510-year Treasury: 4.24% · Jun 30, 202510-year Treasury: 4.26% · Jul 1, 202510-year Treasury: 4.30% · Jul 2, 202510-year Treasury: 4.35% · Jul 3, 202510-year Treasury: 4.40% · Jul 7, 202510-year Treasury: 4.42% · Jul 8, 202510-year Treasury: 4.34% · Jul 9, 202510-year Treasury: 4.35% · Jul 10, 202510-year Treasury: 4.43% · Jul 11, 202510-year Treasury: 4.43% · Jul 14, 202510-year Treasury: 4.50% · Jul 15, 202510-year Treasury: 4.46% · Jul 16, 202510-year Treasury: 4.47% · Jul 17, 202510-year Treasury: 4.44% · Jul 18, 202510-year Treasury: 4.38% · Jul 21, 202510-year Treasury: 4.35% · Jul 22, 202510-year Treasury: 4.40% · Jul 23, 202510-year Treasury: 4.43% · Jul 24, 202510-year Treasury: 4.40% · Jul 25, 202510-year Treasury: 4.42% · Jul 28, 202510-year Treasury: 4.34% · Jul 29, 202510-year Treasury: 4.38% · Jul 30, 202510-year Treasury: 4.37% · Jul 31, 202510-year Treasury: 4.23% · Aug 1, 202510-year Treasury: 4.22% · Aug 4, 202510-year Treasury: 4.22% · Aug 5, 202510-year Treasury: 4.22% · Aug 6, 202510-year Treasury: 4.23% · Aug 7, 202510-year Treasury: 4.27% · Aug 8, 202510-year Treasury: 4.27% · Aug 11, 202510-year Treasury: 4.29% · Aug 12, 202510-year Treasury: 4.24% · Aug 13, 2025Feb 13, 2025May 13, 2025Aug 13, 2025
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$1,947.79/month

6.76% · May 8, 2025

At the later reference$1,963.78/month

6.84% · Jun 12, 2025

The illustrative principal-and-interest payment is $15.99 higher 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 →