Consumer Price Index accelerated 8.3% in April YoY. Food at home CPI jumped to 10.8%. Stocks are are plummeting!

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Inflation barreled ahead at 8.3% in April from a year ago, remaining near 40-year highs

  • The consumer price index accelerated 8.3% in April, more than the 8.1% estimate and near the highest level in more than 40 years.
  • Core CPI, which excludes food and energy, also was higher than expected, rising 6.2%.
  • Shelter costs, which comprise about one-third of the CPI, rose at their fastest pace since 1991.
  • Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living.

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.

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The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March’s peak but was still close to the highest level since the summer of 1982.

 

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