Data released just moments ago by the U.S. Bureau of Labor Statistics showed that the Consumer Price Index (CPI), a measure of inflation, rose 0.2% in April after declining by about 0.1% in March, falling short of expectations for a 0.3% increase. The core CPI, which excludes food and energy prices, rose 0.2% compared to 0.1% in March, matching expectations.
Conversely, the annual CPI rose to 2.3% over the past 12 months, from 2.4% in March, falling short of expectations for a flat reading in March. The core CPI rose to 2.8%. In the index details, the food index recorded a growth of 2.8% compared to 3% in March on an annual basis, and recorded a decline of approximately 0.1% in April, while the energy index decreased by 3.7% in April on an annual basis, after a decline of approximately 2.4% and an increase of approximately 0.7% on a monthly basis in April.