Consumer prices rose 3.8% annually in April, the highest since May 2023
Prices that consumers pay for a wide range of goods and services increased at a faster-than-expected pace in April, raising further concerns about the inflationary impact on the U.S. economy.
The consumer price index rose at a seasonally adjusted 0.6% for the month, putting the one-year pace at 3.8%, the Bureau of Labor Statistics reported Tuesday. The monthly rate was as forecast, but the annual rate was 0.1 percentage point above the Dow Jones consensus.
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