Washington pandemic economy Washington

Consumer prices shot up 0.8% in April as worries escalate

Reading now: 237
www.clickorlando.com

WASHINGTON – A worrisome bout of inflation struck the economy in April, with U.S. consumer prices surging 0.8% and the year-over-year increase reaching its fastest rate since 2008.

The acceleration in prices, which has been building for months, has unsettled financial markets and raised concerns that it could weaken the economic recovery from the pandemic recession.

Wednesday's report from the Labor Department indicated that that the prices that consumers pay for everything from food and clothes to new cars rose at a faster pace than last month's 0.6% rise.

And over the past 12 months, prices are up 4.2% — the fastest rise since a 4.9% gain in the 12 months that ended in September 2008.

Read more on clickorlando.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA