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Financial News Network
May 18, 2011 AT 12:07 AM
The Labor Department reported that U.S. consumer prices rose a seasonally adjusted 0.4% in April, led by higher gasoline costs. Core prices rose 0.2%, excluding food and energy costs.Economists had expected CPI to rise to 0.4% overall, with a 0.2% increase in the core rate.Consumer prices have risen 3.2% over the past year, which is the largest 12-month increase since October of 2008.