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Inflation Nationwide

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in April on a seasonally adjusted basis after rising 1.2 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all-items index increased 8.3 percent, a smaller increase than the 8.5 percent increase for the 12-months ending in March.

Increases in the cost of shelter, food, airline fares, and new vehicles were the largest contributors to the increase. The cost of medical care, recreation, and household furnishings rose as well, but at a slower pace. The overall cost of energy fell, a drop in the price of gasoline offsetting increases for natural gas and electricity. The cost of apparel, communication, and used cars and trucks declined as well. 
 

Inflation Houston

Prices in the Houston-The Woodlands-Sugar Land area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 2.4 percent for the two months ending in April ’22. This was the largest bi-monthly increase since June ’08. The food index increased 2.8 percent, while the energy index rose 10.3 percent in March and April. The all items less food and energy index rose 1.5 percent over the past two months.

Over the last 12 months, the CPI-U for Houston rose 8.5 percent, the largest percent increase since December ’81. The index for all items less food and energy rose 6.9 percent over the year. Energy prices jumped 25.3 percent, largely the result of an increase in the price of gasoline, while food prices advanced 8.7 percent.
 

Note: CPI data in this commentary are not seasonally adjusted. Counties include: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller Counties.

Patrick Jankowski, CERP
Senior Vice President, Research
713-844-3616
pjankowski@houston.org