Inflation
Consumer Prices Climbed 3.8% in April — Fastest Annual Pace in Nearly Three Years
via Bureau of Labor Statistics
Consumer prices rose 3.8% year-over-year in April — the fastest pace in nearly three years — driven by a 3.8% monthly energy spike that alone accounted for over 40% of April's overall price increase. Shelter costs climbed 0.6% and grocery prices rose 0.7% for the month.
Why it matters
When inflation runs this far above the Fed's 2% goal, everyday costs from gas to rent consume a larger share of household income, leaving less room for saving and paying down debt.


