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Inflation rose less than expected in April.
The consumer price index rose 0.2% less than the .3% that was expected.
U.S. inflation edged up in April, less than forecast, defying predictions that tariffs would push prices up at a faster rate.
The consumer price index rose 0.2 compared with the previous month, the Department of Labor said Tuesday. Economists had forecast a 0.3 percent increase following a 0.1 percent decline in March.
Compared with a year ago, consumer prices are up 2.3 percent.
Core prices, a measure that excludes food and energy prices, rose 0.2 [ercent compared with March. Over the past 12 months, core prices are up 2.8 percent.
Economists had forecast core prices to rise 0.3 percent, up from 0.1 percent reported in March.
This puts the 12-month rate at 2.3%.
The consumer price index, which measures the costs for a broad range of goods and services, rose 0.2% for the month, putting the 12-month inflation rate at 2.3%, the Bureau of Labor Statistics said. The monthly reading was in line with the Dow Jones consensus estimate and slightly below the annual forecast for 2.4%.
Excluding volatile food and energy prices, core CPI also increased 0.2% for the month, while the year-over-year level was 2.8%. The forecast was for 0.3% and 2.8% respectively.
The media’s narrative was wrong again.