The consumer price index rose a seasonally adjusted 0.2% for the month, putting the 12-month inflation rate at 2.3%, its lowest since February 2021. The core CPI also increased 0.2% for the month, while the year-over-year level was 2.

The U.S. Bureau of Labor Statistics has announced that the adjusted CPI annual rate in April was 2.3%, the lowest since February 2021 and lower than market expectations at 2.4%. The unadjusted core CPI annual rate in April was 2.8% and remained at the lowest level since March 2021.

The Consumer Price Index rose 0.2% after a decline in March, with shelter and energy prices driving the increase.