U.S. consumer price inflation rises 0.1% in April

The U.S. Labor Department released consumer price inflation data on Friday. The U.S. consumer price inflation rose 0.1% in April, in line with expectations, after a 0.2% gain in March.

On a yearly basis, the U.S. consumer price index fell to -0.2% in April from -0.1% in March. It was the lowest level since October 2009. Analysts had expected the index to remain unchanged at -0.1%.

The U.S. consumer price inflation excluding food and energy gained 0.3% in April, exceeding expectations for a 0.2% increase, after a 0.2% rise in March. It was the largest increase since January 2013.

The rise was driven by higher costs for housing, medical care, furniture and vehicles.

On a yearly basis, the U.S. consumer price index excluding food and energy remained unchanged at 1.8% in April, beating forecasts of a decline to 1.7%.

The core consumer inflation data indicates that the Fed might start to hike its interest rate later this year.

Gasoline prices decreased 1.7% in April, food prices remained unchanged, while shelter costs rose 0.3%.

The medical care index climbed 0.7% in April, the largest gain since January 2007.

Energy costs declined 1.3% in April.