Inflation accelerates in April as CPI jumps 4.2%, the fastest rate since 2008

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8% in April on a seasonally adjusted basis after rising 0.6% in March, the U.S. Bureau of Labor Statistics reported on May 12.

Over the past 12 months, all items index increased 4.2% before seasonal adjustment. This is the largest 12-month increase since a 4.9-percent increase for the period ended September 2008, the Bureau said.

The CPI measures a basket of goods, along with energy and housing costs. A Dow Jones survey had expected a CPI increase of 3.6%. 

Click here to see CPI’s press release.