Annual inflation remained steady at 3.8% in April, matching forecasts, while food prices rose 3.2% year-over-year.
US consumer prices rose 3.8% year-over-year in April, unchanged from March and in line with economist expectations. The report highlighted persistent upward pressure in food costs, which climbed 3.2% from a year earlier, driven partly by higher beef prices.
The core CPI, excluding food and energy, also held steady at 3.6%, suggesting underlying inflation remains elevated. Food away from home saw notable increases, reflecting broader supply chain and labor cost pressures.
Markets showed muted reaction as the data aligned with forecasts, though sustained food price gains may keep inflation concerns in focus for policymakers.