U.S. consumer prices moderated in April on weak gasoline prices, but rising shelter and medical care costs boosted underlying inflation pressures, which should keep the Federal Reserve on course to raise interest rates later this year.
The U.S. Labor Department said on Friday its Consumer Price Index gained 0.1% last month after increasing 0.2% in March. In the 12 months through April, the CPI fell 0.2%, the largest decline since October 2009, after dipping 0.1% in March.
The so-called core CPI, which strips out food and energy costs, increased 0.3%, the largest rise since January 2013, after advancing 0.2% in March.
In the 12 months through April, the core CPI advanced 1.8% after a similar gain in March.
