Propelled by rising energy costs, both the overall Consumer Price Index (CPI) and the core CPI advanced more than expected in April, reveal data released by the U.S. Labor Department on May 17.
On a seasonally adjusted basis, the overall CPI increased six-tenths percent in April.
Economists generally expected a half-percent rise. April marked the fourth consecutive monthly increase this year and followed a four-tenths increase in March and a one-tenth rise in February. In January, the CPI rose seven-tenths of a percentage point.
Economists expected the core CPI to rise two-tenths percent in April. The core CPI, which does not include price changes for food and fuel, actually rose three-tenths of a percent point in April, for the second consecutive month. Like the overall CPI, the core CPI has increased each month this year, although January's and February's increases were more modest at two-tenths percent and one-tenth percent, respectively.