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Prices in US Outstrip Forecasts in Sign of Inflation Persisting

May 11, 2022, 1:37 PM

US consumer prices rose by more than forecast in April, indicating inflation will persist at elevated levels for longer and keeping the Federal Reserve on the path of aggressive interest-rate hikes.

The core consumer price index, which excludes food and energy, increased 0.6% from a month earlier and 6.2% from April 2021, according to Labor Department data released Wednesday. The broader CPI rose 0.3% from the prior month and 8.3% on an annual basis, a slight cooling but still among the highest readings in decades.

Some of the largest contributors to the monthly increase included shelter, food, airfares ...