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WASHINGTON (AP) - Consumer inflation moderated slightly in April even though motorists were socked with another big jump in gasoline prices. Outside of energy and food, inflation pressures remained well-contained.
The Labor Department reported Tuesday that consumer prices rose by 0.4 percent last month following a 0.6 percent jump in March.
The April increase was slightly lower than Wall Street had been expecting and investors were cheered because core inflation, which excludes volatile food and energy, edged up a slight 0.2 percent, the third month at this level or less after a worrisome 0.3 percent rise in January.
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