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View More »A measure of inflation closely tracked by the Fed increased in April
( ) -q-23- UNDATED (Correspondent Jeremy House) “two-percent inflation target.”
A key index of U.S. prices ticked higher in April as consumer spending rebounded.
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TAG: Correspondent Jeremy House reporting. Consumers kept spending last month despite the price rise: Their spending jumped 0.8% from March to April.
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VERBATIM: The index showed that prices rose 0.4% from March to April, much higher than the 0.1% increase the previous month. It’s a sign that inflationary pressures in the economy remain high. The year-over-year figure of 4.4-percent was down sharply from a peak of 7% last June, yet remains far above the Fed’s 2% inflation target.
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