Washington — US consumer prices rebounded less than expected in April as rising costs for petrol and rental accommodation were tempered by a moderation in healthcare prices, pointing to a steady build-up of inflation. The US labour department said on Thursday that its consumer price index (CPI) rose 0.2% after slipping 0.1% in March. In the 12 months to end-April, the CPI increased 2.5%, the biggest gain since February 2017, after rising 2.4% in March. Excluding the volatile food and energy components, the CPI edged up 0.1% after two straight monthly increases of 0.2%. The so-called core CPI rose 2.1% year-on-year in April, matching March’s increase. Economists had forecast the CPI rebounding 0.3% in April and the core CPI climbing 0.2%. The US Federal Reserve tracks a different inflation measure, which is now flirting with the Fed’s 2% target. The personal consumption expenditures price index, excluding food and energy, accelerated to 1.9% year-on-year in March as last year’s big d...
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