CONSUMER PRICES UP 4.2% YEAR-OVER-YEAR

Key Points:

  • The Labor department reported its consumer price index jumped 0.8% in April from March.
  • Consensus among economists was 0.2% increase.
  • CPI has increased 4.2% from the previous year, the highest 12 month increase since the summer of 2008.
  • Used autos surged 10% in April from March, the highest monthly increase on record.
  • The index for all items excluding food and energy rose 0.9% in April, the largest monthly increase since April 1982.
  • The Right Facts will continue to monitor consumer prices.