Inflation in the United States burst during April, after the Consumer Price Index (CPI) registered an annual increase of 3.8%according to the report published this Tuesday by the Bureau of Labor Statistics (BLS). The data was above the 3.3% reported in March and represented the highest annual inflation rate since May 2023.
In its monthly comparison, consumer prices increased 0.6% in Aprilafter the 0.9% increase observed the previous month.
One of the items that had the most impact on inflation again was energy. According to the BLS, the energy index rose 3.8% during Aprildriven mainly by the behavior of gasoline, whose prices increased 5.4% in seasonally adjusted terms.
Without seasonal adjustment, the monthly increase in gasoline was even greater, reaching 11.1%That is, before applying the statistical adjustments used by the Bureau of Labor Statistics (BLS) to eliminate variations typical of certain seasons of the year, gasoline prices showed a much more pronounced increase during April. This means that consumers did see a much stronger increase in gasoline prices for the month.
In annual terms, The price of gasoline has already accumulated an increase of 28.4%while the popular energy index shows an increase of 17.9% compared to April of last year.
All this occurs while rising energy prices continue to increase pressure on prices, with oil trading above $100 dollars per barrel and gasoline hovering around a national average of $4.50 per gallonaccording to the American Automobile Association (AAA).
Food also registered pressure during the month. The food index increased 0.5% in Aprilafter remaining unchanged in March. Within this category, food for consumption at home advanced 0.7%, while food outside the home rose 0.2%.
Among the products with the greatest increases, meat, poultry, fish and eggs stood out, with a monthly increase of 1.3%. Beef, in particular, rose 2.7% during April. Likewise, the fruit and vegetable index advanced 1.8%, while non-alcoholic beverages registered an increase of 1.1%.
At annual rate, Food prices accumulate an increase of 3.2%while food outside the home presents a variation of 3.6% compared to the same period of the previous year.
Meanwhile, core inflationwhich excludes food and energy because they are considered more volatile components, It advanced 0.4% in the month and stood at 2.8% at an annual rate. In March, this indicator had shown monthly increases of 0.2%.
Another component that maintained pressure on inflation was housing. The safe haven index advanced 0.6% during April and accumulates an annual increase of 3.3%. Both the rental component and the rental equivalent for owners registered monthly increases of 0.5%.
Prior to the publication of the report, analysts consulted by Reuters expected a monthly increase of 0.6% and an annual inflation close to 3.7%, in a context marked by the increase in energy costs in recent weeks. The official report far exceeded experts’ expectations.
The result ended up being slightly above expectations in its annual measurement. According to CNBC, Annual inflation exceeded the consensus forecasts compiled by Dow Jones by one tenth of a percentage point.while a good part of the inflationary pressures continues to be concentrated in items such as energy and food (especially, the records that have to do with fuel), which are usually known as being outside the core components.
In addition to energy and housing, Other items that registered increases during April were air fares (2.8%)household items and domestic operations (0.7%), non-public care (0.7%), clothing (0.6%) and education (0.2%). In contrast, the indices for new vehicles (-0.2%), communication (-0.2%) and medical care (-0.1%) showed decreases during the month.
The inflation report also comes at a particularly delicate moment for the Federal Reserve (Fed), which has kept interest rates unchanged throughout the year amid growing internal differences over the course of monetary policy. At the end of April, the Fed voted again to maintain rates, although it recorded four votes against, the most since 1992.
In this context, markets continue to mainly bet that rates will remain unchanged for the rest of the year, although operators have already begun to raise the probabilities of an eventual increase towards the end of 2026.
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