Latest Inflation Numbers Released, Surprising Economists

Inflation for consumers rose 0.3 percent in April for a 8.3 percent increase in the last 12 months — hotter than the 8.1 percent consensus prediction — as the Biden administration struggles to get a handle on the runaway price increases spurred by the president's policies. 

According to the Bureau of Labor Statistics, "shelter, food, airline fares, and new vehicles were the largest contributors" to April's hotter than expected increase. Excluding the food and energy indices, month-over-month inflation was up 0.6 percent, double the 0.3 percent increase reported for March. 

The...