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- U.S. consumer prices rise less than expected in April
U.S. consumer prices rise less than expected in April
The Labor Department announced on Friday the
U.S. consumer price index (CPI) rose 0.3 percent m-o-m in April after a 0.4
percent m-o-m gain in March.
Over the last 12 months, the CPI rose 2.0
percent y-o-y last month, following a 1.9 percent m-o-m advance in the 12
months through March. That was the highest rate since November 2018.
Economists had forecast the CPI to increase
0.4 percent m-o-m and 2.1 percent y-o-y in the 12-month period.
According to the report, the gasoline index continued to increase, rising 5.7 percent m-o-m and accounting for over two-thirds of the seasonally adjusted all items monthly gain. The index for energy rose 2.9 percent m-o-m, although the index for natural gas declined by 0.8 percent m-o-m and the index for electricity was flat m-o-m. Meanwhile, the food index fell by 0.1 percent m-o-m in April, its first monthly decline since June 2017.
The core CPI excluding volatile
food and fuel costs edged up 0.1 percent m-o-m in April, the same increase as
in the previous month.
In the 12 months through April, the core CPI
rose 2.1 percent after a 2.0 percent increase for the 12 months ending March.
Economists
had forecast the core CPI to rise 0.2 percent m-o-m and 2.1 percent y-o-y last
month.
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