OKLAHOMA CITY (OBV) — Consumer prices continued rising in April, with the Consumer Price Index for All Urban Consumers increasing 0.6% on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics.
Over the last 12 months, the all-items index rose 3.8% before seasonal adjustment, up from a 3.3% annual increase reported in March. The index for all items less food and energy rose 2.8% over the year.
Energy costs were a major driver of the monthly increase. The energy index rose 3.8% in April and accounted for more than 40% of the monthly all-items increase. Over the last 12 months, energy prices increased 17.9%, while gasoline prices rose 28.4% and electricity increased 6.1%.
Food prices also rose in April. The food index increased 0.5% over the month, with food at home rising 0.7% and food away from home increasing 0.2%. Over the year, the food index was up 3.2%, including a 3.6% increase for food away from home.
Shelter costs increased 0.6% in April and were up 3.3% over the year. The indexes for owners’ equivalent rent and rent both increased 0.5% in April.
The report also showed the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, increased 3.9% over the last 12 months. CPI-W is the inflation index that would be used under State Question 832 to automatically adjust Oklahoma’s minimum wage each year beginning in 2030 if the measure is approved by voters.
BLS said the May CPI report is scheduled to be released June 10.
