Consumer Prices Rise 0.2% in April
The core rate was up 0.1%, half the expected increase.
Consumer prices in the U.S. in April rose only 0.2% from March, despite a big leap in food costs.
The Labor Department said Wednesday that the core consumer price index, which excludes food and energy from the calculation, ticked up 0.1%, half of the expected increase. The overall CPI was estimated to have risen 0.3%.
Year over year, core consumer inflation was up 2.3%, slightly below the consensus economists' forecast of 2.4%. The overall CPI climbed 3.9% year over year and was also under the expected increase of 4%.
For the month, food prices surged 0.9%, the biggest advance in nearly two decades. Energy prices, the government said, were unchanged from March.
This article was written by a staff member of TheStreet.com.
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