Market Analysis: U.S. inflation data is expected to show that price pressures have eased

Forecasters expect the monthly U.S. consumer price report to show that inflationary pressures eased in April, after the index was higher than expected three times in a row at the beginning of the year. Median estimates from media surveys suggest that data from the U.S. Bureau of Labor Statistics, to be released on Wednesday, is likely to show that a key price measure, excluding food and energy, pump 0.3% last month. The headline consumer price index is expected to rise 0.4%, partly due to higher gasoline prices pump. If the final data does, it will come as a relief to investors and Fed officials alike, after three consecutive months of higher than expected rising in core measures and fueling fears that inflation will take longer to return to the Central Bank’s 2% target.