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US Inflation Climbs to 3.8 Percent in April
(MENAFN) America's inflation rate climbed to its steepest level in nearly two years last month, official data revealed Tuesday, overshooting market forecasts and intensifying pressure on households already stretched by rising energy and food costs.
The US annual inflation rate hit 3.8% in April — surpassing analyst expectations of 3.7% and marking a sharp acceleration from March's 3.3% reading, according to figures released by the Bureau of Labor Statistics.
Energy prices led the surge, rocketing 17.9% year-on-year in April, while food and shelter costs climbed 3.2% and 3.3%, respectively, adding broad-based pressure across household budgets.
On a monthly basis, consumer prices rose 0.6% — a significant single-month jump that underscores the speed at which cost-of-living pressures are rebuilding.
The Bureau of Labor Statistics pointed squarely at energy as the primary driver of the monthly spike. "The index for energy rose 3.8 percent in April, accounting for over forty percent of the monthly all items increase," the Bureau of Labor Statistics said.
Shelter and food costs also contributed meaningfully to the monthly climb, with the shelter index rising 0.6% and food advancing 0.5% over the same period.
The hotter-than-expected reading is likely to complicate the Federal Reserve's rate-cut calculus, as policymakers weigh stubborn price pressures against growing concerns over economic momentum.
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