U.S. consumer prices rose by less than forecast in April as costs for automobiles and airfares declined, reducing chances that inflation will run significantly above the Federal Reserve’s target in coming months.
The consumer-price index advanced 0.2% from the prior month after a March decline of 0.1%, a Labor Department report showed May 10, compared with the Bloomberg News survey median of a 0.3% gain. Excluding food and energy, the core gauge was up a below-forecast 0.1% from March — the least since November — and 2.1% from a year earlier, compared with projections for 2.2%.
