MNI BRIEF: US April CPI Gains 0.2%, Below Forecasts

U.S. CPI rose 0.221% in April or 0.237% excluding food and energy prices, both a tenth lower than Wall Street expectations. Over the past 12 months, headline and core CPI are 2.3% and 2.8%, respectively, the Bureau of Labor Statistics said Tuesday. 

Shelter prices roses 0.3% in the month, accounting for more than half of the headline increase, BLS said. Owners' equivalent rent gained 0.36%, compared to 0.40% in March and 0.28% in February. 

Core services prices excluding housing, or supercore CPI, increased 0.209% and is up 0.061% over the past three months. Core goods prices was up 0.06%. Federal Reserve officials are watching inflation reports closely for signs firms are passing through tariff-related cost increases, but analysts say it may still be too early to see those effects. (See: MNI INTERVIEW: Fed Should Show Resolve, Wait To Cut - English)