May 15 (Reuters) - Futures tracking U.S. stock indexes

gained on Wednesday after softer-than-expected key inflation

data kept alive hopes of interest rate cuts from the Federal

Reserve this year.

A Labor Department report showed the consumer price index

(CPI) rose 0.3% on a monthly basis in April, compared with the

0.4% increase expected by economists polled by Reuters.

Annually, it increased 3.4%, in line with estimates.

Excluding volatile food and energy components, the core

figure rose 0.3% month-on-month in April, meeting expectations.

Annually, it gained 3.6% versus the estimated 3.6% increase.

A separate report from the Commerce Department showed U.S.

retail sales were flat month-on-month in April, compared with an

estimated 0.4% increase.

At 08:31 a.m. ET, Dow E-minis were up 203 points,

or 0.51%, S&P 500 E-minis were up 32.5 points, or 0.62%,

and Nasdaq 100 E-minis were up 128.75 points, or 0.7%.

(Reporting by Shristi Achar A in Bengaluru; Editing by Devika

Syamnath)