Summary

Prices that consumers pay for a wide range of goods and services increased at a faster-than-expected pace in April, as another burst in energy prices raised further concerns about inflation's impact on the U.S. economy. The consumer price index rose at a seasonally adjusted 0.6% for the month, putting the one-year pace at 3.8%, the Bureau of Labor Statistics reported Tuesday. The monthly rate was as forecast, but the annual rate was 0.1 percentage point above the Dow Jones consensus.

AI summaries can be wrong sometimes—always verify important details using the source article.