Inflation remained stubbornly high in April, underscoring the strong price pressures that are still bubbling beneath the surface of the economy – and continuing to burden millions of U.S. households.
The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in April from the previous month, much faster than the 0.1% increase recorded in March. Prices climbed 4.9% on an annual basis.
Those figures were mostly in line with forecasts by Refinitiv economists.
This is a developing story. Please check back for updates.
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