US consumer prices spike the most since 2009
U.S. consumer prices have spiked in April the most since 2009, topping in projections and escalating the already vehement debate about how long inflationary pressures will last.
The consumer price index rose by 0.8% since the previous month, showing profits in almost every major category and an indication of increasing demand is giving companies latitude to give on higher prices.
According to Labor Department data released on Wednesday, other than the unstable food and energy components, the so-called core CPI spiked 0.9% from March, which is the most since 1982.
The profit in the total CPI was twice as much as the highest estimate in a Bloomberg survey of economists. Similar to the previous week’s monthly jobs report, forecasters are grappling hard to get a handle on the fast reopening economy.
