(RTTNews) - With energy prices surging, the Labor Department released a report on Tuesday showing consumer prices in the U.S. increased in line with economist estimates in the month of April.
The Labor Department said its consumer price index climbed by 0.6 percent in April after advancing by 0.9 percent in March. The growth matched expectations.
The report also said the annual rate of growth by consumer prices accelerated to 3.8 percent in April from 3.3 percent in March, which was also in line with estimates.
Excluding food and energy prices, the core consumer price index rose by 0.4 percent in April after inching up by 0.2 percent in March. Economists had expected core prices to increase by 0.3 percent.
The annual rate of growth by core consumer prices accelerated to 2.8 percent in April from 2.6 percent in March, coming in slightly above estimates for a 2.7 percent jump.
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