Consumer prices rise in April but not as much as predicted

NEW YORK (CNNMoney.com) - Consumers had to shell out more money for goods and services in April, but the rise was lower than expected, according to a government report released Wednesday.

The Consumer Price Index, a key inflation reading, rose 0.2 percent last month, according to the Labor Department. That came in lower than the 0.3 percent jump recorded in March and fell short of 0.3 percent rise a consensus of economists surveyed by Briefing.com had forecast.

The more closely watched core CPI, which strips out volatile food and energy prices, rose 0.1 percent. Economists had expected a 0.2 percent rise after a 0.2 percent jump in January.