Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, suggesting that rising costs could persist for months to come.
Prices rose 0.4 per ent from March to April, the government said Wednesday, up from 0.1 per cent from February to March. Compared with a year earlier, prices climbed 4.9 per cent, down slightly from March’s year-over-year increase.
The nation’s inflation rate has steadily cooled since peaking at 9.1 per cent last June, but remains far above the Federal Reserve’s two per cent target rate.
The Fed is paying particular attention to so-called core prices, which exclude volatile food
