Consumer Prices Rose During April Due to Energy Costs
WASHINGTON -- U.S. inflation at the consumer level increased a bit in April, mainly reflecting rising energy prices.</br></br>The Consumer Price Index rose a slower-than-expected 0.3%, after accelerating at an 0.1% rate in March, the Labor Department said.</br></br>Excluding food and energy items, the core index rose just 0.2%, the same as in March. During the 12 months ending in April, core inflation was 2.6%, down from 2.7% for the 12-month period ending in March.</br></br>The government attributed April's faster growth in consumer prices mainly to a 1.8% surge in energy prices, after a 2.1% drop in March. Gasoline prices rose 5%, but natural-gas prices fell 1.6% and electricity prices rose just 0.2%. Food costs grew at the same 0.2% rate as in March.</br></br>The government attributed the increase in the core index largely to housing and a rebound in transportation prices. Housing costs grew 0.1% after increasing 0.2% in March. Transportation prices rose 0.9% after falling 0.9% in March.