By Chris Dorrell Investors breathed a sigh of relief today after the US inflation reading for April came in marginally below expectations after three consecutive overshoots. Figures from the Bureau of Labor Statistics showed the consumer price index (CPI) rose 0.3 per cent month-on-month in April, slightly below the 0.4 per cent expected by economists. This brought the annual rate of inflation to 3.4 per cent, down from March’s figure of 3.5 per cent and in line with expectations. “The index for shelter rose in April, as did the index for gasoline. Combined, these two indexes contributed over …