Inflation barreled ahead at 8.3% in April

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Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.

The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March's peak but was still close to the highest level since the summer of 1982.

 

Removing volatile food and energy prices, so-called core CPI still rose 6.2%, against expectations for a 6% gain, clouding hopes that inflation had peaked in March.

The month-over-month gains also were higher than expectations — 0.3% on headline CPI vs. the 0.2% estimate and a 0.6% increase for core, against the outlook for a 0.4% gain.