Inflation soars 8.3% in April, hovering near 40-year high

Posted on AllSides May 11th, 2022
From The Right
Robyn Beck/AFP via Getty Images

Inflation cooled on an annual basis for the first time in months in April, but rose more than expected as supply chain constraints, the Russian war in Ukraine and strong consumer demand continued to keep consumer prices running near a 40-year-high. 

The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.3% in April from a year ago, below the 8.5% year-over-year surge recorded in March. Prices jumped 0.3% in the one-month period from March.

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https://www.foxbusiness.com/economy/april-2022-consumer-price-index-inflation

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