Investing.com - Consumer price inflation in the U.S. declined for the second consecutive month in April, while prices excluding food and energy costs inched up modestly, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that consumer prices fell by a seasonally adjusted 0.4% in April, compared to expectations for a 0.2% decline, after falling by 0.2% in March.
Year-over-year, consumer prices rose at an annualized rate of 1.1% last month, below expectations for a 1.3% increase and slowing from 1.5% in March.
Consumer prices, excluding food and energy costs, rose 0.1% in April, compared to expectations for a 0.2% increase. Core consumer prices eased up 0.1% in March.
Core CPI increased at annualized rate of 1.7% last month, compared to expectations for a 1.8% increase and slowing from 1.9% in March.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar turned lower against the euro, with EUR/USD jumping 0.21% to trade at 1.2915.
Meanwhile, U.S. stock future indices erased modest gains to turn mixed. The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures pointed to a loss of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.1% at the open.
In a report, the Bureau of Labor Statistics said that consumer prices fell by a seasonally adjusted 0.4% in April, compared to expectations for a 0.2% decline, after falling by 0.2% in March.
Year-over-year, consumer prices rose at an annualized rate of 1.1% last month, below expectations for a 1.3% increase and slowing from 1.5% in March.
Consumer prices, excluding food and energy costs, rose 0.1% in April, compared to expectations for a 0.2% increase. Core consumer prices eased up 0.1% in March.
Core CPI increased at annualized rate of 1.7% last month, compared to expectations for a 1.8% increase and slowing from 1.9% in March.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar turned lower against the euro, with EUR/USD jumping 0.21% to trade at 1.2915.
Meanwhile, U.S. stock future indices erased modest gains to turn mixed. The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures pointed to a loss of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.1% at the open.