US April CPI Rises 8.3%... Inflation Rate Slows for the First Time in 8 Months (Update)

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The US Consumer Price Index (CPI) for April rose 8.3% compared to the same month last year, marking a slowdown in the rate of increase for the first time in eight months.

On the 11th (local time), according to the Wall Street Journal (WSJ) and others, the US Department of Labor announced that the April CPI rose 8.3% year-over-year. This slightly exceeded the expert forecast compiled by WSJ and others (an 8.1% increase) but was a slowdown compared to March (8.5%). The month-over-month increase was recorded at 0.3%.

The CPI for March, announced on the 12th of last month (local time), surged 8.5% year-over-year. This figure far exceeded the previous month's increase (7.9%), marking the largest increase in about 40 years since December 1981 (8.9%).

The US Department of Labor stated that the March CPI index peaked at 8.5%, with prices rising for various items including housing, food, airfare, and new cars.

The core Consumer Price Index, which excludes the volatile energy and food sectors, rose 6.2% year-over-year and 0.6% month-over-month. The core CPI also showed a greater increase than market expectations (6.0% year-over-year, 0.4% month-over-month).