Economists forecast annual inflation at 3.7% in April, the highest since September 2023, driven by elevated energy costs.
US consumer prices likely accelerated in April, with the annual CPI expected to hit 3.7%, the highest level in nearly three years. The monthly increase is projected at 0.6%, following March’s 0.9% jump, as oil prices remain elevated amid geopolitical tensions.
Core CPI, excluding food and energy, is forecast to rise 0.3% month-on-month and 2.7% year-on-year, signaling persistent underlying inflation. WTI crude prices surged over 50% since late February, though they have retreated slightly in early May.
Deutsche Bank economists anticipate a 0.58% monthly gain in headline inflation, with core inflation accelerating to 0.39% from 0.2% in March. Year-on-year core inflation is seen rising to 2.8% from 2.6% previously.