RISE IN CONSUMER PRICES SPARKS INFLATION CONCERN

A worrisome bout of inflation struck the U. S. economy in April, with consumer prices for goods and services surging 0.8% – the largest monthly jump in in more than a decade – and the year- over- year increase reaching its fastest rate since 2008. Wednesday’s report from the Labor Department showed sharply higher prices for everything from food and clothes to housing. A 10% surge in the prices of used cars and trucks – a record jump – accounted for roughly one- third of last month’s overall increases. Over the past 12 months, consumer prices have jumped 4.2%.