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The U.S. Labor Department released consumer price inflation data on Tuesday. The U.S. consumer price inflation rose 0.4% in April, exceeding expectations for a 0.3% gain, after a 0.1% increase in March.
The index was mainly driven by higher energy prices, which climbed 3.4% in April.
Shelter costs climbed 0.3% in April, medical care costs were up 0.3%, while food prices increased 0.2%.
On a yearly basis, the U.S. consumer price index increased to 1.1% in April from 0.9% in March, in line with expectations.
The U.S. consumer price inflation excluding food and energy gained 0.2% in April, in line with expectations, after a 0.1% increase in March.
The increase was mainly driven by rises in shelter, medical care, motor vehicle insurance, airline fares, recreation, and education costs.
On a yearly basis, the U.S. consumer price index excluding food and energy fall to 2.1% in April from 2.2% in March, in line with forecasts.
The consumer price index is not preferred Fed's inflation measure.
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