Pursuits
Consumer Prices in U.S. Climbed in April by Most Since 2013
- Rebound in energy costs propels prices up more than forecast
- Signals inflation is slowly increasing toward Fed’s target
Will Rising Consumer Prices Prompt Fed to Hike Rates?
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The cost of living in the U.S. climbed in April by the most in three years an indication that inflation may be picking up toward the Federal Reserve’s goal.
Consumer prices increased 0.4 percent, the biggest gain since February 2013, following a 0.1 percent advance in March, a Labor Department report showed Tuesday in Washington. The so-called core measure, which strips out food and energy costs, rose 0.2 percent after a 0.1 percent gain the prior month.