US consumer prices jump 8.3% in April, Many Fear of recession remain amid new inflation report
(WASHINGTON, DC) Economy News: As the Financial Channel Network reports U.S. consumer prices rose at a slightly slower pace in April compared to March, though persistent supply-side disruptions still kept inflation near its highest level in 40 years. And core consumer prices rose more than anticipated even while decelerating compared to March, suggesting underlying inflationary trends across the economy remained hot.
The Bureau of Labor Statistics’ April Consumer Price Index (CPI) rose 8.3% in April over last year, coming down from March’s 8.5% advance. That rise had marked the fastest rate since 1981. Consensus economists were expecting an 8.1% increase in April, according to Bloomberg. On a month-over-month basis, the broadest measure of CPI increased by 0.3%, compared to March’s 1.2% rise. More on the Economy from CNBC Below:
