Consumer Prices Rise on Higher Energy Costs

- The Consumer Price Index for April rose .6% versus estimates of a .5% increase and a .4% gain in March.
- The CPI Ex Food & Energy for April rose .3% versus estimates of a .2% gain and a .3% increase in March.

BOTTOM LINE: Prices paid by US consumers rose more than forecast in April, rekindling inflation concerns that may invite more interest-rate increases form the Fed, Bloomberg said. Consumer prices rose 3.5% year-over-year versus a 3.4% year-over-year increase the prior month. Core prices rose 2.3% from year-ago levels. Fuel costs have risen 17.8% over the last 12 months. I expect inflation fears are topping for the year right about now. Slower economic growth, subdued unit labor costs and falling commodity prices should quell inflation jitters over the coming months.