US inflation stands at 4.9% YoY in April

MG News | May 10, 2023 at 05:30 PM GMT+05:00
May 10, 2023 (MLN): The U.S. consumer price index (CPI) for the month of April 2023 clocked in at 4.9% YoY, compared to 5% YoY in March, the latest data issued by the U.S. Bureau of labor statistics on Wednesday showed.
Notably, CPI in the last year, April 2022 stood at 8.3% YoY, showing that the federal reserve with its fast-paced rate hikes and balance sheet reductions has been successful in curbing inflation to some extent.
However, it still remains way above the country's 2% inflation goal.
CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Meanwhile, on a sequential basis, US CPI has increased by 0.4% MoM.
US Inflation Historic Data |
||
---|---|---|
Year |
Month |
CPI YoY |
2023 |
April (latest) |
4.9% |
2023 |
March |
5.0% |
2023 |
Feb |
6.0% |
2023 |
Jan |
6.4% |
2022 |
Dec |
6.5% |
2022 |
Nov |
7.1% |
2022 |
Oct |
7.7% |
2022 |
Sep |
8.2% |
2022 |
Aug |
8.3% |
2022 |
July |
8.5% |
2022 |
June |
9.1% |
2022 |
May |
8.6% |
2022 |
April |
8.3% |
2022 |
March |
8.5% |
2022 |
Feb |
7.9% |
2022 |
Jan |
7.5% |
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