US consumer prices rose 8.3% in the year to April, easing slightly from March while keeping inflation in the world's largest economy not far from the four-decade highs seen in recent months, the Labor Department said Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 11th May, 2022) US consumer prices rose 8.3% in the year to April, easing slightly from March while keeping inflation in the world's largest economy not far from the four-decade highs seen in recent months, the Labor Department said Wednesday.
"In April, the Consumer price Index for All Urban Consumers rose 0.3 percent, seasonally adjusted, and rose 8.3 percent over the last 12 months, not seasonally adjusted," the department said, referring to its reading for the so-called CPI.
In its reading for last month, the Labor Department said the CPI rose 8.5% in the year to March, growing at its fastest pace since the 1980s. Economists had forecast an 8.1% growth for the 12 months to April, putting the reported number still above expectations.
