U.S. dollar declined in late trading on Thursday after consumer price index data missed market expectation.

The consumer price index (CPI) for all urban consumers increased 0.2 percent in April on a seasonally adjusted basis, missing the market consensus of 0.3 percent, the U.S. Labor Department reported Thursday. Over the last 12 months, the all-items index rose 2.5 percent before seasonal adjustment.

The index for all items less food and energy increased 0.1 percent in April, below market estimates of a 0.2-percent gain.

Weaker price growth reduced the expectation that the Federal Reserve will increase interest rates in a faster pace.

The dollar index, which measures the greenback against six major peers, decreased 0.41 percent at 92.657 in late trading.

In late New York trading, the euro was up to 1.1926 dollars from 1.1861 dollars in the previous session, and the British pound was down to 1.3520 dollars from 1.3556 U.S. dollars in the previous session. The Australian dollar rose to 0.7538 dollar from 0.7464 dollar.

The U.S. dollar bought 109.37 Japanese yen, lower than 109.71 Japanese yen of the previous session. The U.S. dollar fell to 1.0022 Swiss franc from 1.0048 Swiss franc, and it fell to 1.2759 Canadian dollars from 1.2843 Canadian dollars.