U.S. April CPI +3.8% YoY, core +2.8%; highest since May 2023

Headline CPI rose +0.6% MoM and +3.8% YoY, jumping 0.5 percentage points from March's +3.3%. Core rose +0.4% MoM and +2.8% YoY, the fastest monthly core increase since January 2025. Energy gained 3.8%, accounting for more than 40% of the total increase, while gasoline rose 28.4% YoY.