Prices rose slightly in April

The U.S. consumer price index inched up 0.2% last month, due largely to rising gasoline costs, the Department of Labor reported today. It was the second straight monthly increase, following a 0.3% gain in March. February was static. Consumer prices rose 3% for the first four months of the year, compared with a 4.1% jump between January and April 2007. The core CPI, which excludes food and energy costs, was up 0.1% after rising 0.2% in March. Gasoline prices jumped 5.6% last month and were 21% higher than they were a year earlier. Energy prices were virtually unchanged last month but were 16% higher than they were a year earlier. The food index rose 0.9% last month, the largest monthly increase in 18 years, following a 0.2% gain in March. Food prices rose 6.9% for the first four months of this year after a 4.9% jump for all of 2007.