U.S. April CPI Expected to Rise 0.6% as Gasoline Prices Spike Over 50% Since February

According to 10data, U.S. April CPI is expected to rise 0.6% month-over-month on Tuesday, May 12, with gasoline prices surging over 50% since late February to above $4.50 per gallon, pushing up prices for airfare and other services. Core CPI, which excludes food and energy, is also accelerating slightly.

A University of Michigan survey shows consumer confidence index has fallen to historic lows, with household finances and purchasing power under continued pressure. The producer price index (PPI) is expected to rise 0.5% month-over-month on Wednesday, while retail data will be released on Thursday.