Consumer Prices Jump 0.8% in April As Worries Escalate
Over the past 12 months, prices are up 4.2% — the fastest rise since a 4.9% gain in the 12 months ending in September 2008.
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This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.
WASHINGTON (AP) — U.S. consumer prices surged 0.8% in April, pushing the rise in inflation over the past year to the fastest rate in more than a decade, an acceleration that has stirred rising worries about its effect on the economy. The Labor Department reported Wednesday that the price consumers pay for their purchases of everything from food and clothes to new cars rose at a faster pace than last month’s 0.6% rise. Over the…
