US inflation accelerated in April

AP Photo/Eduardo Munoz Alvarez, File
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A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high.

The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April, much higher than the 0.1% rise the previous month. Measured year over year, prices were up 4.4% in April, up from 4.2% in March, according to Friday’s report from the government. The year-over-year figure is down sharply from a 7% peak last June but remains far above the Fed’s 2% target.


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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!