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Inflation could hit 4% next month and stay elevated for rest of year, economist warns
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 includes energy and food costs, rose 3.8% year-over-year, according to the Labor Department. Geoff Bennett discussed more with Heather Long, Chief Economist at Navy Federal Credit Union.
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forbes.com
Rising Inflation Puts New Strain On The Fed Path Ahead
Inflation rose to 3.8 percent as energy prices surged, raising concerns that persistent price pressures could complicate the Federal Reserve path on interest rates.
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cnbc.com
Consumer prices rose 3.8% annually in April, the highest since May 2023
The consumer price index was expected to increase by 3.7% annually in April, according to the Dow Jones consensus.
