Consumer Price Index Increase Falls Below 1% in April According to U.S. BLS Data

According to the economic news release by the U.S. Bureau of Labor Statistics, prices in the New York-Newark City area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose 0.9% in April 2022, and advanced 6.3% over the year. The April increase was more moderate than the 1.3% increase in March, advancing the over the year CPI-U by 3.3% month-over-month to 6.3%, in contrast to the steeper 19.6% month-over-month change in March. Higher prices in food, energy, and other items attributed to the April increase.