Inflation increased in April compared to a year ago, buoyed by increases in energy, food, shelter, transportation services and healthcare. Apparel prices rose negligibly.
According to Consumer Price Index (CPI) data released last week by the U.S. Department of Commerce, prices for all goods and services rose by 2.2% (adjusted for seasonality) compared to the same month last year. Energy prices, which fell in the month, remain significantly higher than a year ago. The core inflation rate, which excludes food and energy, increased by 1.9%.
The apparel and footwear price index increased by 0.5%.
Apparel prices (excluding footwear) rose by 0.4% compared to April 2016, their smallest increases in four months. Footwear prices rose by about the same amount, up 0.5%.
Womenswear prices increased by 0.8% in the month, while menswear prices fell by 1.9%.
Children’s apparel suffered a 1.5% price decline, primarily due to a drop in boys’ apparel prices and a shift toward value channels.