Inflation surges higher-than-expected 8.3% in April, near 40-year record
(Worthy News) – Inflation surged a higher-than-expected 8.3% in April, staying near its steepest level in decades as the Federal Reserve scrambles to cool the economy with a series of rate hikes that have rattled investors.
The data indicated inflation ticked down slightly after hitting 8.5% in March — but not as much as economists had forecast, highlighting the tricky task ahead for the Fed as it aims to tamp down price increases without triggering a recession.
On a monthly basis, the Consumer Price Index, a key inflation gauge that tracks what consumers pay for goods and services, rose 0.3% from March to April. That was down from a whopping 1.2% increase from February to March. [ Source: NY Post (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
