United States Inflation

United States

United States: Annual consumer prices decline further in April, but underlying core inflation firming

May 22, 2015

In April, consumer prices increased 0.1% over the previous month in seasonally-adjusted terms. The print was just below March’s 0.2% rise but was in line with market expectations. April’s result reflects that higher prices for medical services, used cars, and shelter offset lower prices for energy.

Annual consumer prices fell 0.2% in April, which was down from the 0.1% decrease seen in March, and marked the second consecutive month of deflation. However, core consumer prices, which exclude food and energy prices, increased 0.3% in April over the previous month after having increased 0.2% in the past three months. The figure was just above market expectations of a 0.1% increase and marked the highest reading in almost four years. Annual average core inflation in April held at 1.8% for the fourth straight month.

FocusEconomics Consensus Forecast participants expect inflation to average 1.3% in 2015, which is down 0.4 percentage points from last month’s forecast. For 2016, the panel expects inflation to average 2.2%.


Author:, Economist

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USA Inflation April 2015

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.


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