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April Inflation Report Runs Hotter Than Expected

A key measure of inflation was expected to climb last month from a low baseline during the early stages of the pandemic, but consumer prices surged even more than forecast. So reports CNBC.

arrows 311332 640 smallAccording to Labor Department statistics, the Consumer Price Index rose 0.8% in April from the previous month, compared with a projected 0.2%, while the so-called core CPI was up 0.9%, versus an expected 0.3%.

The annual increase of 4.2% in the headline CPI rate was the highest since September 2008.

Read the full article from CNBC.

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