Consumer Prices Jumped in April, Climbing Faster Than Expected

Consumer prices leapt higher in April, data released on Wednesday showed, a much-faster-than-expected jump that could resonate on Wall Street as investors try to determine if inflation could alter Federal Reserve policy.

The Consumer Price Index climbed 4.2 percent from a year earlier, the Labor Department said, the fastest pace since 2008. From March to April, prices increased 0.8 percent. Economists had expected the C.P.I. to rise 3.6 percent over the year, and 0.2 percent from the month before, based on the median forecast in a Bloomberg survey.

The core...