US inflation picks up in April as spending slows

• U.S. consumer prices increased in April, which could allow the Federal Reserve to keep interest rates unchanged for a while.
• Personal income rose 0.5% in the month after ticking up 0.1% in March.
• Savings increased to $990.3 billion in April from $963.7 billion in March.
• Personal consumption expenditures (PCE) index increased 0.3% last month after rising 0.2% in March.
• The annual increase in the PCE was at 1.5% from 1.4% in March.

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