Consumer Prices See Largest Yearly Jump Since 2008 as Evidence of Inflation Mounts

The Consumer Price Index (CPI), which tracks the cost of a variety of consumer goods as well as housing and energy prices, has risen 4.2 percent from a year ago, notably higher than the estimated 3.6 percent. It is the largest yearly increase since September 2008.

Even controlling for food and energy prices, the CPI was up three percent, higher than the estimated 2.3 percent. The 0.9 percent CPI increase from March, again controlling for food and energy prices, is the highest since April 1982.