The Consumer Price Index (CPI), which measures overall inflation of the U.S. dollar, rose 0.8% in April, capping off the largest 12-month jump in prices since the period ending September 2008 after the beginning of the Great Recession.
U.S. consumer prices have soared above economists’ predictions and by the most in more than a decade, as fiscal stimulus and booming demand pushed against supply constraints, potentially fueling market fears of a prolonged bout of higher inflation.
