A widely followed measure of inflation rose in April, despite more than a year’s worth of Federal Reserve interest rate increases.The consumer price index, which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate.However, that equated to an annual increase of 4.9%, slightly less than the 5% estimate.Excluding volatile food and energy categories, core CPI rose 0.4% and 5.5% from a year ago both in line with expectations.This is breaking news. Please check back here for updates.

Source: www.cnbc.com