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- U.S. inflation rose more than expected in the last month
U.S. inflation rose more than expected in the last month
The Labor
Department released the U.S. inflation data today. The U.S. consumer price
index increased 0.3% in April, from a 0.2% rise in March. That was the biggest
rise since June last year. Analysts expected this increase. The U.S. consumer
price increase was driven by higher costs for gasoline, shelter and food. On a
yearly basis, the U.S. consumer price index increased 2.0% in April, from a 1.5%
rise in March.
The U.S.
producer price index excluding food and energy climbed 0.2% in April, meeting
expectations of analysts. On a yearly basis, the U.S. consumer price index excluding
food and energy climbed 1.8% in April, from a 1.7% rise in March.
The
inflation target of the Fed is 2%. The Fed was concerned as the inflation was
low, but the increase in consumer prices should ease the concerns.
The U.S. food
prices climbed 0.4% in April, caused by a drought in the West. A drought pushed
up prices for meat, dairy, fruit and vegetables. Gasoline prices increased 2.3%.
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