The food at home component of the monthly Consumer Price Index declined 0.2% in April compared to March, another signal that spiraling food costs are being brought under control. However, the food away from home index rose 0.3% over the month.
Overall, the U.S. Bureau of Labor Statistics’ Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in April on a seasonally adjusted basis, after rising 0.4% in March. Over the last 12 months, the all-items index increased 3.4% before seasonal adjustment. The government data was released May 15.
The two indexes that contributed most to the April increase were shelter gasoline. Combined, these two indexes contributed more than 70% of the monthly increase in the index for all items. The energy index rose 1.1% over the month. Other categories that rose were motor vehicle insurance, medical care, apparel and personal care.
Combining the food at home decline with the food away from home increase, the compounded food index was unchanged in April.
The index for all items less food and energy – two volatile line items that often are subtracted out -- rose 0.3% in April, after rising 0.4% in each of the three preceding months. Indexes which increased in April include shelter, motor vehicle insurance,
For the 12 months ending in April, the all items index rose 3.4%, a smaller increase than the 3.5% increase for the 12 months ending March. The food index increased 2.2% over the past year.
