US STOCKS SNAPSHOT-US stock futures move higher after April inflation data

May 13 (Reuters) - U.S. stock index futures moved higher on Tuesday after a lower-than-expected inflation report boosted expectations that the Federal Reserve was on track to lower borrowing costs this year.

A Labor Department report showed April consumer price inflation rose 0.2% on a monthly basis and stood at 2.3% year-on-year, with economists polled by Reuters expecting a 0.3% monthly rise and the annual rate holding steady at 2.4%.

The core figure, which excludes volatile components such as food and energy, rose 0.2% on a monthly basis compared to an estimate of 0.3%. Annually, it stood at 2.8% against an expectation of 2.8%.

At 08:32 a.m., Dow E-minis YMcv1 were down 118 points, or 0.28%, S&P 500 E-minis EScv1 were up 7.5 points, or 0.13%, and Nasdaq 100 E-minis NQcv1 were up 70 points, or 0.33%.