U.S. CPI 3.8%; PPI up 1.4%

U.S. inflation accelerated in April, with consumer prices rising 3.8% from a year earlier and producer prices posting their biggest monthly increase in more than four years, according to Bureau of Labor Statistics reports released this week. The Consumer Price Index rose 0.6% on a seasonally adjusted basis in April, while the Producer Price Index for final demand increased 1.4%. The reports were published on May 12 and May 13, not Friday, May 16. The figures matched the broad direction described in social media posts circulating on Friday, but the official dates and several details came from the BLS releases. ### When did the government publish the inflation data? The Bureau of Labor Statistics released the April Consumer Price Index at 8:30 a.m. Eastern time on Tuesday, May 12, and the April Producer Price Index at 8:30 a.m. Eastern time on Wednesday, May 13, according to the agency’s notices. The CPI report said the all-items index rose 3.8% over 12 months, after a 3.3% annual increase in March. The PPI report said final demand prices rose 6.0% from a year earlier, the largest 12-month increase since December 2022. (bls.gov) ### What drove the jump in consumer prices? April energy prices rose 3.8% on the month and accounted for more than 40% of the CPI increase, the BLS said. Shelter also increased 0.6% in April, while food rose 0.5%. Core CPI, which excludes food and energy, increased 0.4% in April and was up 2.8% from a year earlier. The CPI report said household furnishings and operations, airline fares, personal care, apparel and education were among the categories that increased in April. (bls.gov) New vehicles, communication and medical care were among the major categories that declined in the month, according to the report. ### Why was producer inflation stronger than consumer inflation? (bls.gov) The Producer Price Index for final demand rose 1.4% in April, the largest monthly increase since March 2022, the BLS said. Nearly 60% of that increase came from a 1.2% rise in final demand services, while prices for final demand goods climbed 2.0%. BLS said a 2.7% jump in margins for final demand trade services accounted for about two-thirds of the advance in services prices. (bls.gov) In goods, more than three-quarters of the increase was traced to a 7.8% jump in final demand energy prices. Machinery and equipment wholesaling, truck transportation of freight, fuels and lubricants retailing, and legal services were among the categories that moved higher. (bls.gov) ### Did the social posts get the details right? Friday social posts correctly pointed to a 3.8% annual CPI reading and a 0.4% monthly core CPI increase. They also aligned with the official PPI figures showing a 1.4% monthly increase and a roughly 6.0% annual rise. But the posts described the data as if it had just emerged on May 16, while the official releases were issued earlier in the week. (bls.gov) The BLS reports also give more precise drivers than the posts did. CPI was led by energy, shelter and food, while PPI was pushed by services margins and energy goods, according to the agency. ### What comes next on the calendar? S&P Global’s release calendar shows flash U.S. PMI data are scheduled for May 21 at 13:45 UTC, not May 18. The Federal Reserve’s May calendar page shows the next FOMC minutes are scheduled for release on May 20 at 2:00 p.m. (bls.gov) Eastern time. The Bureau of Labor Statistics said the next Consumer Price Index report, for May 2026, is due on June 10 at 8:30 a.m. (bls.gov) Eastern time, and the next Producer Price Index report is due on June 11 at 8:30 a.m. Eastern time. (bls.gov) (pmi.spglobal.com)