Key facts
- US consumer prices rose 0.3% in April.
- The annual inflation rate was 3.4%.
- Core inflation, excluding food and energy, rose 0.3% in April.
- Core inflation's annual rate was 3.6%.
Consumer prices in the United States increased by 0.3% in April, a figure that fell short of economists' projections. This marks a deceleration from the 0.4% rise observed in March, offering a potential sign of moderating inflation. The annual inflation rate for the Consumer Price Index (CPI) stood at 3.4% in April.
Core inflation, which excludes volatile food and energy components, also saw a slower pace of increase, rising by 0.3% in April. This followed a 0.4% increase in the previous month. On an annual basis, core inflation was recorded at 3.6%. These figures are closely watched by the Federal Reserve as it considers its monetary policy decisions.