US: Annual core CPI drops to 1.4% in April vs. 1.7% expected

Inflation in the US, as measured by the Consumer Price Index (CPI), slumped to 0.3% on a yearly basis in April from 1.5% in March. The core CPI, which excludes volatile food and energy prices, slumped to 1.4% and fell short of the market expectation of 1.7%.

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