5/12, 2:30 PM (Source: TeleTrader)
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US inflation at 12-year high of 4.2% in April

The Consumer Price Index (CPI) for all items in the United States jumped 4.2% on an annual basis in April, the US Bureau of Labor Statistics said on Wednesday. The figure marks an increase from the annual inflation rate of 2.6% recorded in March and is the highest since September 2008.

The index for all items except food and energy was up 3% year on year, while food prices rose 2.4% on an annual basis and energy prices increased 3%.

On a monthly basis, the CPI for All Urban Consumers added 0.8% compared to March, while the index less food and energy gained 0.9%, marking the largest monthly jump since 1982.

Breaking the News / NP