US CPI inflation set to have remained close to zero in April

A drop back in seasonally adjusted gasoline prices means that U.S. headline CPI inflation (13.30 BST) probably remained close to zero in April. But the more recent rebound in crude oil prices suggests that retail gasoline prices will rebound in May and June. 

Although the resurgence in goods prices is a little hard to square with the dollar's appreciation, which should lower the price of imported goods, it wouldn't be surprising to see another sharp rise in used car prices in April. 

Capital Economics have pencilled in a 0.2% m/m rise in core consumer prices.