Annual Inflation Surges to 4.2 Percent, Highest in 13 Years

Annual Inflation Surges to 4.2 Percent, Highest in 13 Years
U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration on Feb. 8, 2021. Dado Ruvic/Illustration/File Photo/Reuters
Tom Ozimek
Updated:

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.

The consumer price index (CPI) jumped by 4.2 percent for the 12 months ending in April, compared to 2.6 percent for the 12 months ending in March, the Labor Department stated in a release on May 12 (pdf). This is the largest 12-month increase since September 2008, when the index rose by 4.9 percent.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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