Inflation surges in April report
The U.S. Consumer Price Index for All Urban Consumers increased 0.8% in April on a seasonally adjusted basis after rising 0.6% in March, the U.S. Bureau of Labor Statistics reported.
Over the last 12 months, the-all items index increased 4.2% before seasonal adjustment. This is the largest 12-month increase since a 4.9% increase for the period ending September 2008.
The report said food index increased 0.4% in April. The index for food at home also rose 0.4% over the month as all six major grocery store food group indexes increased. The index for fruits and vegetables rose 0.8% in April as the index for fresh fruits increased 1.5%. The index for dairy and related products rose 0.6%, and the index for meats, poultry, fish, and eggs rose 0.5% over the month. The index for cereals and bakery products increased 0.4% and the index for nonalcoholic beverages rose 0.3% in April. The index for other food at home rose 0.1% over the month.
The food away from home index continued to rise, increasing 0.3% in April. The index for limited-service meals rose 0.5%, while the index for full-service meals increased 0.2% in April; both increases were the same as in March.
The food at home index increased 1.2% over the past 12 months. All six major grocery store food group indexes increased over the period. The largest increase was the fruits and vegetables index, which rose 3.3%. Several groups posted increases of less than 1%, including dairy and related products (0.6%), other food at home (0.4%), nonalcoholic beverages (0.2%), and cereals and bakery products (0.1%).
The index for food away from home rose 3.8% over the last year. The index for limited-service meals rose 6.2%, and the index for full-service meals rose 3.7% over the last 12 months. The index for food at employee sites and schools fell sharply over the last 12 months, declining 35.2%.
