Inflation Steady at 3.8%

Consumer prices hold steady as energy and shelter costs climb

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% on a seasonally adjusted basis in April. Over the last 12 months, the all-items index increased 3.8% before seasonal adjustment. The index for energy rose 3.8% in April (accounting for over forty percent of the monthly all items increase) and the shelter index increased 0.6%.