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U.S. Inflation Remains Low but Rises to 3-Year High
The U.S. consumer price index grew by a seasonally adjusted 0.4% from March to April, the U.S.
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The U.S. consumer price index grew by a seasonally adjusted 0.4% from March to April, the U.S. Dept. of Labor reports. It was the biggest monthly increase in inflation since February 2013.
Energy led the increase, but the department says growth was broad-based. When energy and food are excluded, the index gained 0.2% in April.
The Labor Dept. says unadjusted inflation for the 12-month period ended in April was 1.1%.
Economists consider a 2% growth rate healthy. The CPI shrank 0.2% in February and rose 0.1% in March. Analysts note that continued gains will bolster the likelihood that the Federal Reserve will raise interest rates when it meets in June.
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