The Consumer Price Index (CPI) was 2.3% higher than a year ago, the Bureau of Labor Statistics said Tuesday, below the economists’ expectations of 2.4% and the previous reading.
The monthly gain was 0.2%, rebounding from a prior decline of 0.1%, yet falling short of a 0.3% forecast.
The core CPI rose to 2.8% on an annual basis, unchanged from both the previous and expected 2.8%.
Month over month, it increased 0.2%, inching higher from the 0.1% uptick in March but below expectations of 0.3%.
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