Inflation ran hotter than expected in April, coming in above expectations, according to a measure followed closely by the Federal Reserve, the Bureau of Economic Analysis said on Friday.
The personal consumption expenditures price index rose 0.4% for the month and at an annual rate of 4.4%, compared to 0.1% and 4.2% in March. Economists had estimated it would increase by 0.3% and 4.3%.
Read More : Inflation heats up in April, prompting Fed to face critical questions