Prices for consumer goods rose faster than expected in April, with food and energy prices driving the spike, the Bureau of Labor Statistics said.

Higher inflation has persisted as rising prices pressure consumers.

Labor Department figures showed that gasoline prices are up more than 28% compared to a year ago.

The consumer price index was expected to increase by 3.7% annually in April, according to the Dow Jones consensus.

Prices for consumer goods rose faster than expected in April, with food and energy prices driving the spike, the Bureau of Labor Statistics said.

The latest inflation report shows price increases for American consumers in April hit a three-year high, driven by a spike in the cost of gasoline. The Consumer Price Index, which…

Final demand inflation rose by 6% on an annual basis in April, marking the largest increase since 2022, the U.S. Bureau of Labor Statistics reported.

U.S. consumers spent $757.1 billion on retail and food services in April, a 0.5% increase over March, the U.S. Census Bureau reported Thursday.