U.S. consumer prices rose by less than forecast in April as costs for automobiles and airfares declined, reducing chances that inflation will run significantly above the Federal Reserve’s target in coming months. The consumer-price index advanced 0.2 percent from the prior month after a March decline of 0.1 percent, a Labor Department report showed Thursday, compared with the Bloomberg survey median of a 0.3 percent gain. Excluding food and energy, the core gauge was up a below-forecast 0.1 percent from March — the least since November — and 2.1 percent from a year earlier, compared with projections for 2.2 percent.
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