ChainCatcher report, according to Jinshi, the U.S. April CPI year-over-year increase is expected to be 3.7%, the largest rise since September 2023, compared to a 3.3% increase in March. Core CPI, excluding food and energy prices, is forecast to rise 0.3%, potentially rounding up to 0.4%. The U.S. Bureau of Labor Statistics is expected to make a one-time adjustment to rental costs; according to Lou Crandall, Chief Economist at Wrightson ICAP, this will result in a noticeable catch-up effect, boosting the core CPI increase by approximately 0.1 percentage points.
U.S. April CPI Expected to Rise 3.7% YoY; Rent Adjustment May Boost Core CPI
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Summary
U.S. April CPI inflation data is expected to rise 3.7% year-over-year, the largest increase since September 2023, up from 3.3% in March. Core CPI is projected to increase 0.3% (possibly 0.4%). According to Lou Crandall of Wrightson ICAP, a one-time adjustment to rent data by the U.S. Bureau of Labor Statistics may add 0.1 percentage points to core CPI. On-chain indicators suggest market participants are closely monitoring the inflation data for potential signals on Fed policy.
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