Hooray, Consumer Price Index low (except for gas and food!)

[rfranklin]

(Gee, if you don't eat and don't use energy, you're in great shape!)

U.S. April core consumer prices flat
CPI up 0.5% on fastest rise in energy prices in 2 years

By Rex Nutting, MarketWatch

WASHINGTON (MarketWatch) - The underlying rate of U.S. inflation was unchanged in April, even as spiking energy prices drove up overall consumer prices, the Labor Department said Wednesday.

The consumer price index increased 0.5% in April, driven by a 4.5% increase in energy prices, the fastest increase in energy prices in more than two years. Food prices jumped 0.7%, but other price increases were moderate. Read the full release.

The core CPI, which excludes food and energy costs, was unchanged in April, the lowest rate of underlying inflation since November 2003.

Economists were expecting the CPI to rise 0.4% in April after a 0.6% gain in March, according to a survey conducted by MarketWatch. The core rate was expected to rise 0.2% in April after 0.4% in March.

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