Consumer Prices Rise by Most in 10 Months
The consumer price index rose 0.3% in April, the biggest increase in 10 months, the Labor Department reported May 15.
The gain, which followed a 0.2% upturn in March, matched economists’ median forecast, Bloomberg News reported.
Costs were up 2% in the past 12 months, compared with a 1.5% year-over-year advance the prior month.
The so-called core CPI, excluding food and fuel, rose 0.2%, matching March’s gain. Economists had forecast a 0.1% increase.
Energy costs increased 0.3%. Falling fuel prices are giving households some relief this month after costs climbed to the highest level in a year in April.
