The Department of Labor said Wednesday that the Consumer Price Index rose 8.3 percent compared with a year ago. Prices were up 0.3 percent compared with the prior month.
This is the eleventh straight month of inflation above 5 percent. Prices rose at an annual rate of 8.5 percent in March. This was the month since September 2021 that the year-over-year inflation figure was not higher than the month earlier.
Economists had forecast CPI to rise by 0.2 percent for the month and 8.1 percent compared with a year ago.
