Consumer prices rose less than expected in the month of April, according to a report released by the Department of Labor on Wednesday, with the slower than expected price growth likely to ease recent concerns about the pace of inflation.
The report showed that the consumer price index rose 0.2 percent in April following an unrevised 0.3 percent increase in March. Economists had been expecting a slightly larger increase by the index of about 0.3 percent.
The Labor Department also said that the core consumer price index, which excludes food and energy prices, edged up 0.1 percent in April after rising 0.2 percent in the previous month. The increase came in below economist estimates of a 0.2 percent increase.
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