ExclusiveUS Consumer Prices Increased 2.3% Annually in April

The US Consumer Price Index, CPI, rose 0.2% in April compared to March, bringing the annual inflation rate to 2.3%, the Bureau of Labour Statistics said. The CPI increased 2.4% in March. Excluding volatile food and energy prices, core CPI also increased 0.2% in April, while the year-over-year rate was 2.8%. Shelter costs increase accounts for more than half of all monthly increases. Energy price index was also higher because of price increases in natural gas and electricity, offsetting the decline in gasoline price. Americans were paying 0.4% less for food at home, and 0.4% more for food away from home, compared to March. As a result, the food price index fell 0.1% monthly.