US consumer prices rebound 0.2% in April on jump in gasoline

Washington (AFP) – US consumer prices rebounded in April after dipping in March, driven by a surge in gasoline prices and an uptick in housing costs, the Labor Department reported Thursday.  

Food prices also rose, as did medical services, but cell phone service — which had been blamed for the bafflingly low inflation last year — were flat after finally rising in March.

The Consumer Price Index, which tracks costs for household goods and services, rose 0.2 percent compared to March, seasonally adjusted. CPI was up 2.5 percent from April 2017, putting it a half point above the Federal Reserve’s inflation target.