Consumer prices leapt higher in April, data released on Wednesday showed, a much-faster-than-expected jump that could resonate on Wall Street as investors try to determine if inflation could alter Federal Reserve policy. The Consumer Price Index climbed 4.2 percent from a year earlier, the Labor Department said, the fastest pace since 2008. From March to April, prices increased 0.8 percent. The core index, which strips out volatile food and energy, rose 0.9 percent in April from March — its biggest monthly increase since April 1982. The monthly increase in April was broad-based, as prices for used cars accelerated and the cost of air travel, shelter and home furniture also increased.

Source: New York Times May 12, 2021 09:04 UTC