US pickup transitory as March CPI rises by less than previous 2 months

Washington

THE cost of living in the US, excluding food and fuel, rose less than forecast last month, bearing out Federal Reserve Chair Janet Yellen's forecast that the recent pickup would prove fleeting.

The core consumer-price index (CPI) increased 0.1 per cent, the smallest gain since August, after consecutive 0.3 per cent gains in the prior two months, a Labor Department report showed Thursday in Washington.