CPI Report Live: April Inflation Report Is Out, Here’s What It Shows

Whether you’re trading low-priced penny stocks or large-cap equities, conducting thorough research is crucial for understanding stock market movements. This week, the spotlight is on inflation figures, as the Consumer Price Index (CPI) data for April gets reported.

In this article, we discuss the main highlights from the April CPI report and offer an overview of the CPI data, its importance, and its connection to stock market economic information in 2023.

What Is CPI Inflation Data?

CPI stands for “Consumer Price Index.”

The U.S. Bureau of Labor Statistics explains it as“The CPIs are based on prices of food, clothing, shelter, fuels, transportation, doctors’ and dentists’ services, drugs, and other goods and services that people buy for day-to-day living. Prices are collected each month in 75 urban areas across the country from about 6,000 housing units and approximately 22,000 retail establishments (department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments).”

CPI is measures “the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas.”

What Time Is CPI Released Today?

CPI Data and the April Consumer Price Index report is released at 8:30 am ET today, May 10th.

Consumer Price Index Report For March 2023 & CPI Numbers

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% in March on a seasonally adjusted basis. Over the last 12 months, the all-items index increased 5.0 percent before seasonal adjustment.

The index for all items less food and energy rose 0.4% in March, after rising 0.5% in February. Indexes that increased in March include shelter, motor vehicle insurance, airline fares, household furnishings and operations, and new vehicles. The index for medical care and the index for used cars and trucks were among those that decreased over the month.

Core figures were in-line with expectations, while headline figures were below what analysts had expected.

CPI Report Today: April Inflation Expectations

Following the May FOMC meeting and Fed Chair Jerome Powell’s press conference, a pause in interest rate hikes is still unconfirmed. While many had hoped the latest monetary policy did its job, the Fed remains focused on “data-dependent” next steps. Whether this means one more hike for 2023, a pause, or simply business as usual is up for speculation. However, the CPI report today will likely play a part in that set of data to consider.

CPI expectations for today:

• CPI MoM: 0.4%
• CPI YoY: 5.0%
• Core CPI MoM: 0.4%
• Core CPI YoY: 5.5%

Consumer Price Index Report For April 2023 & CPI Numbers

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in April on a seasonally adjusted basis, after increasing 0.1 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 4.9 percent before seasonal adjustment.

The index for shelter was the largest contributor to the monthly all items increase, followed by increases in the index for used cars and trucks and the index for gasoline. The increase in the gasoline index more than offset declines in other energy component indexes, and the energy index rose 0.6 percent in April. The food index was unchanged in April, as it was in March. The index for food at home fell 0.2 percent over the month while the index for food away from home rose 0.4 percent.

The index for all items less food and energy rose 0.4 percent in April, as it did in March. Indexes which increased in April include shelter, used cars and trucks, motor vehicle insurance, recreation, household furnishings and operations, and personal care. The index for airline fares and the index for new vehicles were among those that decreased over the month.

The all items index increased 4.9 percent for the 12 months ending April; this was the smallest 12-month
increase since the period ending April 2021. The all items less food and energy index rose 5.5 percent over
the last 12 months. The energy index decreased 5.1 percent for the 12 months ending April, and the food index
increased 7.7 percent over the last year.

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