Annual inflation rate was 2.3 percent in April, federal government
The annualized and month-to-month increases were in line with analysts' forecasts, according to CNBC.
The Consumer Price Index in April increased 0.2%, compared to the previous month, the Bureau of Labor Statistics reported Tuesday.
The increase follows a 0.1% drop in March, the federal agency also reports.
The cost of consumer goods in the index increased 2.3% over the past 12 months.
The annualized and month-to-month increases were slightly lower than analysts' forecasts, according to CNBC.
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