US CPI inflation data declines to 4.9% in April vs. 5% expected

NEW YORK (May 10) The US Bureau of Labor Statistics (BLS) reported on Wednesday that inflation in the US, as measured by the change in the Consumer Price Index (CPI), declined to 4.9% on a yearly basis in April from 5% in March. This reading came in slightly below the market expectation of 5%.

Further details of the publication revealed that the Core CPI inflation, which excludes volatile food and energy prices, edged lower to 5.5% from 5.6% as expected.

On a monthly basis, the CPI and the Core CPI rose 0.4%, matching analysts' estimates.

"The index for shelter was the largest contributor to the monthly all items increase, followed by increases in the index for used cars and trucks and the index for gasoline," the BLS explained in its publication. "The increase in the gasoline index more than offset declines in other energy component indexes, and the energy index rose 0.6 percent in April."

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