All Items
Year-over-Year
3.8%
Up from 3.3% in March. Highest since May 2023.
Hotter than forecast
All Items
Monthly (Seasonally Adj.)
+0.6%
Down from +0.9% in March.
In Line with Forecast
Core CPI
(ex. Food & Energy) YoY
2.8%
Up from 2.6% in March. Monthly: +0.4%.
Hotter than forecast
Energy
Year-over-Year
+17.9%
Gasoline: +28.4%. Fuel oil: +54.3%. Monthly: +3.8%.
Shelter
Year-over-Year
+3.3%
Rent: +2.8% YoY. Owners' equiv. rent: +3.3%. Monthly: +0.6%.
Eggs
Year-over-Year
‑39.2%
Sharp annual decline as bird-flu supply disruptions eased.
April 2026 — Monthly Change by Major Category (Seasonally Adjusted)
Core Goods (ex. Food/Energy)
Key Context: Geopolitical Energy Shock
The U.S.-Iran conflict that began in late February 2026 has severely disrupted shipping through the Strait of Hormuz — a chokepoint for roughly 20% of global oil trade. That single geopolitical event is the primary driver of energy costs in this report. Gasoline prices at the national average have exceeded $4.50 per gallon, the highest level since mid-2022.
Monthly CPI Change Trend
Apr 2025+0.2%
May 2025+0.1%
Jun 2025+0.3%
Jul 2025+0.2%
Aug 2025+0.3%
Sep 2025+0.3%
Oct–Nov 2025No data — shutdown
Dec 2025+0.3%
Jan 2026+0.2%
Feb 2026+0.3%
Mar 2026+0.9%
Apr 2026+0.6%
April 2026: Actual vs. Forecast
Headline CPI (Monthly)
Forecast+0.59%
Actual+0.6%
Headline CPI (YoY)
Forecast3.7%
Actual3.8% ↑
Core CPI (Monthly)
Forecast+0.3%
Actual+0.4% ↑
Core CPI (YoY)
Forecast2.7%
Actual2.8% ↑
Data Quality Note: Shutdown Gap & Shelter Catch-Up
October and November 2025 CPI data are unavailable due to the 2025 federal government lapse in appropriations. Additionally, BLS implemented a one-time adjustment to rent and owners' equivalent rent indices in April to correct for data shortfalls during the shutdown period. This means April's 0.5–0.6% monthly shelter gains may overstate the true underlying rent trend and should be interpreted with caution.