US April CPI Rises 3.8%, Above Market Forecast

U.S. consumer prices rose more than expected in April.

The Bureau of Labor Statistics, part of the Labor Department, said May 12 that the consumer price index increased 3.8% from a year earlier. That topped the market forecast of 3.7%. The previous reading was 3.3%.

On a month-over-month basis, the index rose 0.6%. That matched market expectations and was down from the previous 0.9% increase.

Core CPI, which excludes food and energy, rose 2.8% from a year earlier. That was above the market forecast of 2.7%.

On a monthly basis, core CPI increased 0.4%. That exceeded the market forecast of 0.3%. The previous reading was 0.2%.