WASHINGTON—Inflation has ticked up, which will only add to speculation over what the Fed might do with rates.
The Labor Department’s latest Consumer Price Index was up 0.4% during April 2016, the largest gain since February 2013, after rising a scant 0.1% in March. Overall, the year-over-year increase in the CPI is 1.1%, up from 0.9% in March.
Driving the higher prices were increases in the cost of medical care and food.
The core CPI, which doesn’t consider food and energy costs, was up 0.2% after increasing 0.1% in March. In the 12 months through April, the core CPI increased 2.1% after increasing 2.2% in March.