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A widely followed measure of inflation rose in April, despite more than a year’s worth of Federal Reserve interest rate increases.
The consumer price index, which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate.
However, that equated to an annual increase of 4.9%, slightly less than the 5% estimate.
Excluding volatile food and energy categories, core CPI rose 0.4% and 5.5% from a year ago both in line with expectations.
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