The core consumer price index stayed steady last month, rising just 0.2% and cooling worries about inflation. The overall CPI, which responds to fluctuating food and energy costs, climbed 0.4%, still well within the comfort zone. That's good news for the Fed, which held interest rates steady last week in hopes of targeting inflation.
The better-than-expected figures led a rally to a record high on Wall Street, MarketWatch reports, even after Home Depot and Wal-Mart released poor earnings data. But gas—which rose yesterday to a record of $3.09 a gallon and was up 4.7% in April alone—looks to be the spoiler.