U.S. consumer prices rose less than forecast last month, a sign that inflation may be tapering off as the economy slows down, reported Bloomberg News. The Labor Department said today that the Consumer Price Index increased 0.4 percent after rising 0.6 percent in March. This is slightly less than the 0.5 percent increase economists had predicted.

Core prices, which exclude food and energy, were up 0.2 percent in April after a 0.1 percent gain in March. Energy prices rose 2.4 percent last month after jumping 5.9 percent in March; gasoline prices climbed 4.7 percent. Food prices, which account for about one-fifth of the Consumer Price Index, increased 0.4 percent.

Other costs increased slightly, including housing costs, which rose 0.2 percent for the second-straight month and medical care costs, which rose 0.4 percent after a 0.1 percent rise in March. Clothing prices decreased 0.3 percent after falling 1 percent the month before.