Inflation Rose in April Fueled by Jump in Consumer Spending

A woman shops at a grocery store in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times

The Federal Reserve’s preferred inflation gauge unexpectedly climbed in April, leading to concerns that the U.S. central bank could raise interest rates for the 11th straight month in June.

In April, the annual personal consumption expenditure (PCE) price index rose to 4.4 percent, up from 4.2 percent, according to the Bureau of Economic Analysis (BEA). On a month-over-month basis, the headline PCE price index rose 0.4 percent, up from 0.1 percent in the previous month.